Post-trade processing leader joins financial ecosystems in
Home to more than 100 exchanges and trading platforms,
Highlights / Key Facts
Since the Dodd-Frank Act was enacted in 2010, OTC derivatives
transactions have been moving to electronic and hybrid execution
platforms. MarkitSERV chose to deploy infrastructure inside
Equinixto better serve market participants by providing a simplified, efficient access structure to deliver their best of breed services.
Optimal local area and wide area connectivity inside
Equinixallow a low barrier to entry for pre- and post-trade service providers such as MarkitSERV. Financial services companies can simply “plug in” to the wide range of ecosystem participants and get their business up and running immediately.
- MarkitSERV Credit Centre is a centralized, ultra-low-latency, pre-trade credit checking system that links traders to trading venues, clearinghouses and futures commission merchants in the OTC derivative markets. By enabling execution venues to check credit lines before prices are displayed and orders executed, Credit Centre eliminates the risk that trades may fail at the clearinghouse due to insufficient credit.
- MarkitSERV provides a single gateway for OTC derivative transaction processing globally. The solution helps reduce operational risk, streamline processing, and improve the safety and certainty of the OTC derivatives markets by simplifying and automating trade processing across all major asset classes, including credit, interest rate, equity and FX.
- More than 100 dealers, 70 inter-dealer brokers and 2,500 buy-side institutions are connected to MarkitSERV services, which handled in excess of 20 million confirmations in the last year.
Stewart Orrell, managing director, Global Financial Services, Equinix:
“We are delighted to have MarktSERV join the growing ecosystem inside
Equinix. By deploying their critical infrastructure among the existing trading ecosystems in New Yorkand Chicago, MarkitSERV is now strategically positioned to directly connect to a wide range of endpoints in the emerging OTC ecosystem and more efficiently serve client requirements.”
MarkitSERV provides a single gateway for OTC derivatives trade processing. By integrating trade confirmation, reporting, routing to clearing, allocations and portfolio reconciliation, MarkitSERV provides an end-to-end solution for post-trade transaction management of credit, interest rate, equity and foreign exchange derivatives. MarkitSERV connects dealers and buy-side institutions to central clearing counterparties, trade repositories and electronic swap markets. For more information, please see www.markitserv.com.
Forward Looking Statements
This press release contains forward-looking statements that involve
risks and uncertainties. Actual results may differ materially from
expectations discussed in such forward-looking statements. Factors that
might cause such differences include, but are not limited to, the
challenges of acquiring, operating and constructing IBX centers and
developing, deploying and delivering
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