Tue Sep 17 05:45:00 UTC 2024: ## Euronext Acquires Substantive Research, Expanding its Investor Services Portfolio
**Amsterdam, Brussels, Dublin, Lisbon, London, Milan, Oslo and Paris – 17 September 2024** – Euronext, the leading pan-European market infrastructure, has announced the acquisition of Substantive Research, a leading provider of investment research and market data benchmarking.
Substantive Research, founded in 2015 and headquartered in London, offers in-depth analysis on product and pricing comparisons for investment research and market data. The company boasts a growing client base of over 100 global institutions, including asset managers, hedge funds, wealth managers, and sell-side firms.
The acquisition brings Substantive Research’s expertise in benchmarking to Euronext’s subsidiary Commcise, a cloud-based platform providing commission management, research valuation, and consumption tracking solutions. This integration aims to offer a more comprehensive solution for clients, allowing them to access unique market benchmarks within Commcise and demonstrating compliance with evolving regulations.
“This acquisition will accelerate the growth of our Investor Services business,” said [Euronext executive name], [Euronext executive title]. “We are excited to work with the Substantive Research team to further scale the business and benefit our clients worldwide.”
Substantive Research’s founders are equally enthusiastic about the deal. “[Founder name]”, [Founder title], commented: “Euronext’s acquisition of Substantive Research underlines our team’s hard work in creating a unique price benchmarking database. With the research market poised for more regulatory changes, we are excited to accelerate our coverage and data depth with Commcise and Euronext’s resources.”
The transaction is aligned with Euronext’s capital allocation policy and is expected to contribute to the Group’s growing investor services segment, generating recurring revenue and strengthening its connection with the buy-side community.
First Piper 