MP Craig Laundy, with SiRCA CEO David Sharp (left) and Acting Group CEO David Wright (right)
Federal Minister, the Hon. Craig Laundy announces the planned merger of two of Australia’s leading translational research centres, the Capital Market Cooperative Research Centre (CMCRC), Australia’s world-leading translational research institute, and Securities Industry Research Centre of Asia-Pacific (SIRCA), best known for delivering the Thomson Reuters Tick History product.
“It's not just vertical integration, it's horizontal integration at the same time, which will provide some real grunt, especially when it comes to data and data analytics, training PhD students, and collaboration with industry,” Minister Laundy said.
“What this merger will deliver to this country moving forward, not just for the PhD students moving up and out into the world, and the benefits that we'll have as a country moving forward, is limited only by your imagination. You’re the sort of people we in government wish we could find more of to back.”
The new not-for-profit global translational research hub will:
- significantly increase the scale and capacity to :
- deliver world-leading translational research and industry engagement, resulting in solutions, products and new companies that will enhance the fairness and efficiency of global markets (or “Market Quality”)
- develop and provide relevant global data and advanced tools to promote and enable financial research and innovation, particularly by member universities.
- expand the world’s largest cross-disciplinary industrial PhD program producing future R&D leaders in data science, finance, market quality and market design
- bring together and leverage a community of around 70 industry partners, 50 universities, over 250 experts and 12 companies in our corporate family;
- provide expert teams who will deliver value to industry by solving their problems and generating impact and outcomes for our university partners and students.
The merger is subject to finalisation of due diligence verification and legal approvals, which the Boards expect to complete quickly.
The new entity combines a track record of demonstrable success in translational research and bringing innovation to capital and securities markets, health markets, energy markets, facilities management, digital assets, supply chain logistics and financial research.
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