For the moment, all customers of the European Trade Data Monitor (TDM) platform BOAT are sticking with the service, following Cinnober Financial Technology’s purchase of BOAT from financial information services provider Markit last month. BOAT is an independent TDM that provides post-trade reporting to over 40 investment firms and Multilateral Trading Facilities (MTF), according to… Read More >>
Jefferies Joins Markit’s Messaging Network
Investment bank Jefferies has joined Collaboration Services, the open messaging network from Markit, a provider of financial information services, according to a company statement. “With Markit’s network we are giving our team another tool with which to communicate and do business with clients,” says Marty DeMonte, managing director and chief information officer (CIO) at Jefferies,… Read More >>
MarkitSERV Connects to KRX
MarkitSERV, the electronic trade processing service for over-the-counter (OTC) derivatives offered by financial information services firm Markit, is now connected to the Korea Exchange (KRX), according to a company statement. KRX began clearing interest rate swaps in March 2014, and mandatory clearing of interest rate swaps denominated in Korean won (KRW) began on June 30…. Read More >>
Cinnober Saves Sinking BOAT
Cinnober Financial Technology, a provider of solutions and services to trading and clearing venues, including exchanges, clearinghouses, banks and brokers, has acquired Markit’s trade reporting service, aka BOAT. Cinnober has provided the core technology and operated the BOAT platform since its inception in 2007, the company notes. The BOAT platform, says Cinnober, is compliant with… Read More >>
New Markit Service Targets FX Options
Financial information services vendor Markit is hoping to make the manual exercise of foreign exchange (FX) options a thing of the past. Markit officials are developing an electronic service for trade confirmation and exercise management of FX options, according to a company statement. The new service, which will be deployed by MarkitServ, Markit’s trade processing… Read More >>
Markit Feed Updates Portfolio Valuations
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… Read More >>
Markit to Buy CTI
Markit, a provider of financial information services, wants to acquire Compliance Technologies International (CTI), a tax compliance and reporting services vendor, officials say. The vendors did not disclose the amount of the transaction, which is subject to regulatory approval and is expected to close in July, officials add. A growing harmonization among tax regimes worldwide… Read More >>
Markit & Genpact Offer KYC Service
Genpact, a specialist in business processes, operations and technology, and Markit, a provider of financial information services, have jointly launched Markit І Genpact KYC Services. The service will collect and centrally administer legal entity data and documents that banks require from their clients in order to conduct business and comply with know-your-customer and anti-money-laundering regulations,… Read More >>
Celent Report Finds CBR Project Costs Rising as Markit Buys thinkFolio
Celent Report Finds CBR Project Costs Rising Firms have found that over the past three years cost basis reporting projects have had bigger price tags because of data quality issues, systems integration challenges and unavoidable manual processes, according to study by market research firm Celent, a division of Oliver Wyman, Inc. The report was funded… Read More >>
BNY Mellon to Use Markit as SWIFT Readies a KYC Registry
BNY Mellon to Use Markit for EDM Support BNY Mellon Asset Management has selected Markit’s enterprise data management (EDM) platform to unify significant components of its data management operations and eliminate manual processes, say BNY and Markit officials. Markit officials say the vendor was selected after “an extensive due diligence process” and proof of concept… Read More >>
