Abel Noser, a provider of trade analytics and compliance solutions, has bolstered its offering with the purchase of Zeno Consulting.
With offices in Metro DC and Los Angeles, Zeno is a securities consulting firm that specialises in assisting plan sponsors/pension funds and other asset owners to proactively monitor and manage their asset managers’ trading processes.
“We’re delighted with the opportunities presented by fusing our collective consultative approaches with Abel Noser’s superior resources, technology and support,” said Zeno’s President and CEO Steven Glass.
As part of the deal, Glass will join the Abel Noser board of directors and lead Zeno AN Consulting, the newly formed asset owner-consulting group comprised of both firms’ asset owner clientele.
“The new internal structure will enable us to better service existing clients as well as offer our unique expertise to Abel Noser’s client base; all while preserving our traditional conflict-free approach,” Glass added.
Zeno will also augment Abel Noser’s knowledge leadership in regulatory oversight and best execution review critical to MiFID II and PRIIPs compliance for the asset owner community, a timely component now that the 2018 European regulatory mandates are live. The combination will create the largest universe of its kind with unparalleled peer group comparisons while leveraging Abel Noser’s leading technology platform with enhanced processing and reporting customisation for existing Zeno clients.
Abel Noser provides a range of trading services and trade analytics to institutional asset owners, investment managers and brokers. It also the provider of transaction cost analysis (TCA) services. Its 500 global clients subscribe to its TCA and compliance products through a network of resellers, distribution partners and strategic alliances.
As part of its solutions, Abel Noser helps users meet liquidity rule reporting requirements. SEC Rule 22e-4, also called the Liquidity Rule, requires an exchange-traded fund or an open-end management investment company to assess, manage, and review liquidity risk on a regular basis. Liquidity risk, in this case, refers to the risk that a fund may not be able to meet share redemption requests without significant dilution of remaining investors’ interests in the fund.
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