NovitasFTCL advised the shareholders of Commcise on its sale to Euronext

We are pleased to announce that NovitasFTCL acted as exclusive financial advisor to the shareholders of Commcise, a SaaS provider of award-winning research evaluation and commission management solutions for financial services firms, in its sale to Euronext.

Euronext acquires 78% of the capital of Commcise from its founders for an initial cash consideration of £27 million.

Commcise offers independent, fully-integrated commission management and research valuation solutions to the buy-side, sell-side and research providers. CommciseBUY, its cloud-based commission management platform is designed from the ground up to meet the specific needs of investment managers and is the market-leading software solution helping asset managers to evidence end-to-end compliance with the latest MiFID II regulatory requirements. CommciseBUY provides automated trade reconciliation, algorithmic rules engine, invoice management, research evaluation / broker vote, consumption tracking (including an automated research valuation engine), commission budgeting, research accounting and reporting in a single fully-audited solution.

Euronext is the leading pan-European exchange in the Eurozone, covering Belgium, France, Ireland, The Netherlands, Portugal and the UK. It operates regulated and transparent equity and derivatives markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties.

A full press release for the transaction can be found at:

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