NEX INTERNATIONAL LIMITED Group Structure: UBO & Subs
Executive summary
NEX INTERNATIONAL LIMITED (company number [03611426](/company/03611426)) is an active UK holding entity incorporated on 3 August 1998, operating under SIC code 70100 (activities of head offices). The entity is directly controlled by Cme London Limited, with ultimate control residing upstream with CME Group Inc. Downstream, NEX INTERNATIONAL LIMITED holds significant shareholdings in four UK corporate entities, two of which act as intermediate parents with extensive subsidiary networks.
What a Companies House search shows
A standard search on the Companies House register operates strictly upwards. Under the statutory framework established by Part 21A of the Companies Act 2006, an official record details only a company's immediate officers, filed accounts, registered office, and its upstream Persons with Significant Control (PSCs). The public search does not furnish a list of corporate assets, investments, or downstream subsidiaries owned by the entity.
For NEX INTERNATIONAL LIMITED, the PSC register demonstrates immediate control by a single corporate entity:
- Cme London Limited (company number 11276290): Corporate PSC notified on 28 March 2019. Nature of control includes ownership of shares (75% to 100%), voting rights (75% to 100%), and the right to appoint and remove directors.
- Historical entry: Nex Group Limited (company number 10013770): Corporate PSC notified on 15 December 2016 and ceased on 28 March 2019, having held 75% to 100% of shares and voting rights.
Active corporate officers on the register include:
- Adrienne Hilary Seaman: Director, British, resident in England, born September 1970, appointed 30 May 2022.
- Derek Warren: Director, British, resident in Northern Ireland, born July 1976, appointed 30 September 2024.
- Andrew John Sikora: Director, American, resident in the United States, born August 1980, appointed 5 February 2026.
- Sarah Giffen: Secretary, appointed 13 February 2023.
- David James Muddiman: Secretary, appointed 13 February 2023.
While this reveals who controls NEX INTERNATIONAL LIMITED, standard filings provide no downstream transparency. Typing a holding company into the Companies House portal only details who controls that holding company, never what it owns beneath it.
What the reverse PSC search reveals
To determine the group assets controlled by NEX INTERNATIONAL LIMITED, analysts require a reverse PSC search. Corp Intel indexes the entire UK register of persons with significant control, interrogating filings across every active and dissolved entity to identify where NEX INTERNATIONAL LIMITED is named as a registrable corporate entity.
This reverse process maps the downstream corporate structure chart tier by tier. Group accounts filed at Companies House may note certain subsidiaries, but statutory balance sheets often run months behind current filings, take advantage of micro or small entity reporting exemptions, or omit non-trading and dormant vehicles. The PSC register provides direct legal confirmation of active control.
Downstream subsidiaries of NEX INTERNATIONAL LIMITED
| Company | Number | Status | Control band | Own subsidiaries |
| :--- | :--- | :--- | :--- | :--- |
| NEX GROUP HOLDINGS LIMITED | 06694512 | Active | 75-100% shares | 5 |
| INTERCAPITAL NO. 1 LIMITED | 06173794 | Dissolved | 75-100% shares | 0 |
| INTERCAPITAL LIMITED | 01423001 | Active | 75-100% shares | 20 |
| CME GROUP BENCHMARK ADMINISTRATION LIMITED | 09914271 | Active | 75-100% shares | 0 |
Second-tier holding depth
The downstream search reveals that NEX INTERNATIONAL LIMITED is not an operating endpoint, but an intermediate holding vehicle:
1. INTERCAPITAL LIMITED (01423001): Incorporated in 1979, this active subsidiary controls 20 subsidiary companies of its own, representing an extensive operating or legacy cluster.
2. NEX GROUP HOLDINGS LIMITED (06694512): Incorporated in 2008, this active vehicle controls 5 direct downstream subsidiaries.
In total, the entity sits directly above 4 entities and indirectly above at least 25 tier-two subsidiaries across the corporate network.
Who sits at the top: The upstream chain to the UBO
Tracing the ownership path upwards from NEX INTERNATIONAL LIMITED leads through UK intermediaries to the ultimate parent entity.
1. Operating Entity / Holding Level: NEX INTERNATIONAL LIMITED (03611426).
2. Immediate Parent: Cme London Limited (11276290), which holds 75% to 100% of the shares, voting rights, and appointment rights.
3. Ultimate Corporate Parent: CME Group Inc. The PSC register of Cme London Limited records CME Group Inc as holding 75% to 100% of shares, voting rights, and appointment rights.
Under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), institutions performing KYC and AML onboarding must establish the ultimate beneficial ownership (UBO) through this chain to identify whether individual natural persons retain material ultimate ownership or if control rests with a listed corporate parent.
Why the structure matters for due diligence
Understanding a corporate group structure chart is critical during corporate transactions, debt underwriting, procurement vetting, and litigation enforcement.
Structural subordination and liability rings
When contracting with or extending credit to a company, liability generally stops at the corporate veil. A creditor contracting solely with NEX INTERNATIONAL LIMITED has no direct claim on the assets of INTERCAPITAL LIMITED or CME GROUP BENCHMARK ADMINISTRATION LIMITED unless cross-corporate guarantees or debentures have been executed.
Before executing high-value agreements, legal counsel must establish:
- Contracting Entity: Is the contract executed at the asset-holding layer or at an intermediate holding layer?
- Asset Location: Do the underlying operational assets reside in downstream entities such as the 20 subsidiaries under INTERCAPITAL LIMITED?
- Ring-Fencing: In restructuring or enforcement, parent liabilities cannot easily be recovered from solvent sister or downstream entities without substantive legal grounds.
Security, insolvency, and statutory filings
Lenders reviewing security packages must ensure that fixed and floating charges cover the proper tier in the group. Legal teams routinely review company charges on Companies House to ensure no prior debentures compromise their position.
Similarly, when counterparty distress is suspected, practitioners must check whether any group members are subject to statutory notices on The Gazette. In legal due diligence, a winding up petition search or running a wider winding up search across all intermediate UK parents ensures that formal insolvency proceedings on a holding company do not jeopardize ongoing subsidiary operations.
Corporate investigation framework
To conduct a comprehensive group structure audit without gaps, follow this structured process:
1. Identify Immediate Officers and PSCs: Pull the target entity's immediate register via Companies House to record all listed PSC filings and corporate directors.
2. Run Upstream Verification: For any corporate PSC found, pull its records successively until a natural person UBO or a listed corporate parent is established.
3. Execute Reverse PSC Query: Cross-reference the target entity's corporate number across the entire UK PSC dataset to list every company where the target holds significant control.
4. Map Intermediate Tiers: For each direct subsidiary, repeat the reverse lookup to identify secondary tiers (such as the 20 entities below INTERCAPITAL LIMITED).
5. Check Encumbrances and Solvent Standing: Run charge searches and formal insolvency checks on every material operating company in the chart.
Manual group mapping vs automated intelligence
Corporate intelligence professionals traditionally map group hierarchies manually. An analyst accesses individual Companies House profiles, opens the filing history, downloads the most recent confirmation statements or full annual accounts, and extracts group listings from notes to the financial statements.
This manual methodology creates substantial exposure. Subsidiaries formed after the latest accounting date do not appear in annual accounts for up to 18 months. Non-wholly owned entities, minority joint ventures, and dissolved vehicles like INTERCAPITAL NO. 1 LIMITED are frequently obscured or omitted in summarized group accounting. Cross-referencing hundreds of PDFs across a multi-tiered structure containing 25 or more downstream companies requires hours of billable time.
Corp Intel eliminates this friction. By maintaining a continuously indexed mirror of the entire UK PSC database, Corp Intel reverses relationships instantly. Rather than digging through individual confirmation statements, our systems map every tier where an entity is registered as a controlling corporate PSC in seconds.
To maintain visibility after completion, legal teams use free company monitoring to receive immediate notifications if corporate officers resign, new charges are registered, or PSC changes are lodged.
How to get this as a chart
You can download the complete visual tree for this entity and its downstream holdings with our [Corporate Org Chart](/corporate-org-chart) report for £25. Sourced directly from the Register of Companies and PSC filings, the dated PDF details the full upstream control path to CME Group Inc alongside all mapped subsidiary tiers.
For conveyancers, lawyers and lenders
Legal counsel and institutional credit committees require definitive group structure data before signing off on corporate transactions, facility agreements, or major supply chain onboarding. Relying on an operating entity's self-certified disclosures without verifying downstream assets creates severe structural subordination risk. Missing a tiered subsidiary holding or an upstream corporate controller can cause compliance failure under the MLR 2017 beneficial ownership rules. Confirm the entire structure quickly and defensibly with our comprehensive [Corporate Org Chart](/corporate-org-chart) analysis.
FAQ
Why can I not see subsidiaries on Companies House directly?
Companies House is designed as a company-level filing register, not a relational group directory. It tracks inward ownership (who owns the company) via the PSC register, but provides no search interface to see outward ownership (what the company owns). Mapping subsidiaries requires a reverse PSC index.
Who is the ultimate beneficial owner of NEX INTERNATIONAL LIMITED?
NEX INTERNATIONAL LIMITED is controlled upstream by Cme London Limited, which is owned by CME Group Inc. As CME Group Inc is an ultimate corporate parent entity, it sits at the head of the control chain on the UK register.
How many direct subsidiaries does NEX INTERNATIONAL LIMITED hold?
According to current public filings, NEX INTERNATIONAL LIMITED holds significant control over four direct UK entities: NEX GROUP HOLDINGS LIMITED, INTERCAPITAL LIMITED, CME GROUP BENCHMARK ADMINISTRATION LIMITED, and the dissolved entity INTERCAPITAL NO. 1 LIMITED.
What are second-tier subsidiaries?
Second-tier subsidiaries are companies controlled by a target company's direct subsidiaries. For example, NEX INTERNATIONAL LIMITED directly owns INTERCAPITAL LIMITED, which in turn acts as the corporate PSC for 20 downstream UK companies. These 20 entities form the second tier of the group structure.
Do dissolved entities remain relevant in a group structure chart?
Yes. Historical subsidiaries like INTERCAPITAL NO. 1 LIMITED appear in statutory due diligence to map legacy assets, former corporate guarantees, historical intra-group loans, or remaining liabilities from previous corporate restructurings.