NEW YORK, Feb. 6, 2019 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities,
today announced its acquisition of Qaravan Inc., a leading provider of innovative software and risk & performance analytics
tailored to banking and finance industry professionals. Qaravan's web-based applications provide bank executives, regulators, and
analysts with a seamless approach to peer monitoring and competitor benchmarking.
Pursuant to the acquisition, OTC Markets Group will integrate Qaravan's core assets, which include state-of-the-art
proprietary technology solutions and buy-side analytics tools. Through Qaravan's intuitive online software and integrated
Microsoft Excel tools, customers can access interactive versions of FDIC reports and analyze associated regulatory data to
perform peer comparisons and prepare regulatory exam materials and investor/board communications.
Qaravan's CECL software provides banks with a turnkey approach that is aligned with the latest FASB and regulator guidance.
Through an intuitive question and answer format, the application collects relevant data and decisions points that are used to
generate custom reports centered around the key data attributes regulators now require. This includes thorough loan level data
analysis that conforms to FASB's latest guidance on the use of Weighted Average Remaining Maturity (WARM) portfolio modeling.
Qaravan data modules provide management, boards of directors and regulators with an enhanced portfolio of research, reporting,
metrics and analytics that are relevant across the entire banking ecosystem. Management teams and industry analysts benefit from
enhanced competitive intelligence, due diligence analysis, and benchmarking of industry peer groups which include considerations
such as funding strategy, loan concentration, risk profile, and branch geography.
"The acquisition of Qaravan provides a robust set of banking data on the 500 plus community banks that trade on OTC Markets,"
said Matt Fuchs, Executive Vice President of Market Data and Strategy at OTC Markets Group. "The
community banking space is a key growth sector for our markets and we look forward to offering additional tools and quantitative
data to support the public and private banking industry."
As part of the acquisition, Anthony Hodson, the founder of Qaravan, has joined OTC Markets
Group as a Senior Vice President of Market Data.
"I'm excited to be a part of the OTC Markets team as we build on the momentum Qaravan has created and expand the value of our
data and analytics offering across the banking sector," said Anthony Hodson, Senior Vice
President, OTC Markets Group.
OTC Markets Group was advised on this transaction by Sandler O'Neill + Partners, L.P.
To learn more about Qaravan, please visit www.qaravan.com.
OTC Markets Group's Market Data provides mission-critical quote and trade data, as well as company and security information on
OTCQX, OTCQB and Pink securities to the trading, investment, legal and regulatory communities. The Company's data products
include real-time data, end-of-day data, historical quote data, company financial data, security master data, corporate reference
data and compliance data. OTC Markets Group also provides data through leading market data redistributors. For more
about OTC Markets Group's market data products, including connectivity information, visit https://www.otcmarkets.com/market-data/overview.
To contact OTC Markets Market Data, call +1 (212) 220-2166 or e-mail marketdata@otcmarkets.com.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market
and the Pink® Open Market for 10,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, we connect a
diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade
through the broker of their choice and empower companies to improve the quality of information available for investors.
To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com
OTC Link ATS and OTC Link ECN are SEC regulated ATSs, operated by OTC Link LLC, member FINRA/SIPC.
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About Qaravan
Qaravan is part of OTC Market Group's comprehensive Market Data offerings specifically designed to provide intuitive
risk & performance analytics tailored to banking and finance industry professionals.
Through Qaravan's intuitive online software and integrated Microsoft Excel tools, customers can access interactive versions of
FDIC reports and analyze associated regulatory data for competitive analysis, regulatory exam preparation and investor/board
communications. Designed to provide bank management, boards of directors and regulators with an enhanced portfolio of
research, reporting, metrics and analytics, Qaravan's data platform includes modules that are relevant across the entire banking
ecosystem.
Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com
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SOURCE OTC Markets Group Inc.