Markit, a provider of financial information services, reports that customers of its Portfolio Valuations service can now elect to have their portfolios updated automatically with a real-time trade feed from MarkitSERV, the company’s electronic trade processing service.
Authorized customers will have their over-the-counter (OTC) derivative trades captured and processed through MarkitSERV, thereby eliminating the need for customers to build a separate trade feed for valuations, which will reduce costs, onboard times and discrepancies in trade details, according to a Markit statement.
“This initiative, along with our platform’s existing connectivity to clearinghouses and dealers for delivery of cleared and counterparty valuations, will help customers meet their workflow and reporting needs,” Padmesh Thuraisingham, managing director of portfolio valuations at Markit, says in the statement.
Markit also notes that the “first phase of the integration covers interest rate swaps, swaptions and overnight index swaps, and will be extended to other asset classes in the coming months.”
The company’s hosted Portfolio Valuations service provides mark-to-market valuations and risk analytics for vanilla and exotic OTC derivatives across asset classes, private equity and illiquid debt investments, structured notes, and fixed income cash products including bonds, loans and asset backed securities, the company adds.
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