MDXT acquires UK data management start-up Schematiq
MDX Technology (MDXT) has acquired UK-based data management start-up Schematiq for an undisclosed sum.
MDXT acquires data management start-up Schematiq
MDXT says it will leverage Schematiq’s tech to create “the world’s first platform for model and data distribution designed for financial services”, enabling clients to “unlock and scale business logic from Excel and desktop models to enterprise-wide platforms”.
Founded by former Credit Suisse VP Darren Harris in 2008, Schematiq offers a platform that enables organisational end user computing (EUC) Excel models to be controlled, governed, tested and shared through APIs and code conversions.
The platform’s capabilities are to be merged with the real-time data distribution and connectivity solutions currently provided by MDXT to tier-one banks, brokers, trading venues and buy-side firms across Europe, North America and Asia.
As part of the transaction, Harris has been appointed as MDXT’s new chief product officer (CPO). The London-headquartered company says that in his new role, Harris will work to “align product development with business goals and enhance customer satisfaction”.
MDXT previously purchased Software-as-a-Service (SaaS) workflow solution Iceflow Technology in 2022, through which the company appointed Graham Denyer, the original architect of the Markit EDM solution, as chief technology officer (CTO).
