Dundee-based media and publishing giant DC Thomson said it will partner with Edinburgh-based Electronic Research Interchange (ERIC) “to develop its bespoke investment research offering for the post-MiFID II world.”
MiFID II rules which will overhaul the way stocks, bonds, commodities and derivatives are traded in the EU.
This transaction will see DC Thomson acquire a “material stake” in ERIC.
“The partnership will enable ERIC to create tailored research solutions for both investment managers and research providers, using DC Thomson’s digital publishing experience to source and deliver quality research content that caters to their specific needs,” said DC Thomson.
“ERIC has chosen a non-financial services industry partner to retain the independence of its proposition and to benefit from DC Thomson’s indexing technology and expertise.
“As a new industry of investment research platforms emerges, ERIC’s business model will enable its users to trade information securely.”
ERIC co-founder Russell Napier said: “We are delighted to partner with DC Thomson to bring both buyers and sellers of investment research world class digital publishing expertise.
“DC Thomson’s support allows ERIC to retain a vital independence of ownership in a marketplace where transactions need to be highly confidential.
“This partnership allows ERIC to offer both off the shelf and bespoke solutions for an industry needing to become MIFID II ready.”
Christopher Thomson, Deputy Chairman of DC Thomson: “ERIC has forged an excellent position as a hub for unbundled investment research.
“We want to take the platform to the next level with our experience in search, payments and document processing.
“We look forward to working together to build the ERIC marketplace as the number one destination for the buyers and sellers of research in the move to be MIFID II ready.”
Malcolm Dobson, Group Chief Technology Officer at DC Thomson, said: “The investment research marketplace is a dynamic space that will undergo significant transformation over the next twelve months.
“Technology will underpin the solutions that enable investment managers to improve the quality of investment information they access.
“We are excited to provide the technical support to underpin ERIC’s specialist understanding of the research marketplace.”