London, New York, NY and Dallas, TX - Markit, the
financial information services company, and JPMorgan today announced
that they have agreed to terms under which Markit will acquire J.P.
Morgan FCS Corporation (“FCS”). FCS is the leading provider of
portfolio and risk management software and services to syndicated loan
market participants, including the Wall Street Office family of
products.
The combination of FCS and Markit brings together
highly complementary data and software services. The combined entity
will be the leading provider of independent loan market data and
software, currently used by over 400 financial institutions to manage
over $1 trillion in assets. This will reinforce Markit’s position in
the global credit markets, and enable the firm to develop and deliver
innovative solutions to improve operational efficiency and transparency
in the loan markets.
Lance Uggla, Chief Executive Officer of
Markit, said: “Both FCS and Markit have long and proven track ... more »
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Tuesday, July 29
Markit Expands Loan Business Through Acquisition of FCS from JPMorgan
by
Sean Sprackling
on Tue 29 Jul 2008 11:34 BST
Thursday, July 24
SimCorp Integrates FINCAD Derivatives Analytics
by
Sean Sprackling
on Thu 24 Jul 2008 11:47 BST
Press release - 23 July 2008
FINCAD and SimCorp have entered into an agreement to integrate FINCAD's derivatives pricing software into SimCorp's investment management enterprise solution, SimCorp Dimension.
The global agreement extends SimCorp Dimension's integrated pricing mechanism to encompass a wider range of derivatives than ever before. These include credit derivatives and instruments implemented within the system's new XpressInstruments framework, such as exotic derivatives, structured products and hybrids. These can now be valued directly from within SimCorp Dimension using FINCAD's advanced theoretical pricing solutions. As a result SimCorp Dimension customers can eliminate data manipulation tasks required to price such positions and thus reduce operational risk while simultaneously improving efficiency. Søren G.A. Pedersen, vice president for partner development at SimCorp comments, "FINCAD derivatives pricing expertise perfectly complements SimCorp Dimension, allowing us to offer our customers access to timely, accurate and proven pricing for credit and other more complex derivatives seamlessly from ... more »
More Clearing News....
by
Sean Sprackling
on Thu 24 Jul 2008 11:41 BST
Well it is all happening at once in the world of clearing. As I mentioned in a previous article Eurex were also about to launch a service and here is the press release for it: Initial phase will focus on credit index clearing/
Service complements existing market infrastructure to offer effective counterparty risk management 22 Jul 2008 Eurex Clearing evaluates different formats to introduce a central counterparty (CCP) solution for products which are today handled bilaterally over the counter (OTC). It aims to complement current US initiatives with a European solution. The European OTC CCP platform could utilize existing Eurex Clearing functionality as well as new functionality for trade and risk management. Eurex Clearing is in discussions with several infrastructure providers concerning their involvement in a new platform. The initial product scope will be the credit default swap (CDS) market, focusing on iTRAXX index exposures that are mainly traded out of ... more »
Monday, July 21
DTCC and Markit To Form Strategic OTC Derivatives Partnership
by
Sean Sprackling
on Mon 21 Jul 2008 15:35 BST
Market Leaders in Trade Processing Team Up to Reduce Risk, Improve EfficiencyLondon and New York, NY – Markit and The Depository Trust & Clearing Corporation (DTCC) today announced the formation of a new company that will combine the strengths of Markit’s front- and middle-office trade processing services with DTCC Deriv/SERV’s back-office leadership in post-trade confirmation and matching services. Thursday, July 17
Tradeweb and Charles River launch OTC Derivatives post-trade processing offering
by
Sean Sprackling
on Thu 17 Jul 2008 08:32 BST
JERSEY CITY, NJ (July 16, 2008) – Tradeweb, a leading over-the-counter multi-asset class online marketplace, and Charles River Development, an award-winning provider of financial software and services to the global investment management community, today announced the launch of a fully- integrated, end-to-end solution for post-trade processing of over-the-counter (OTC) Derivatives. Charles River clients who use Tradeweb to execute OTC derivatives trades can now automatically capture trade details within the Charles River Investment Management System (Charles River IMS). This integration also supports allocation processing for OTC derivatives. Charles River and Tradeweb already have significant integration points across the trade lifecycle for fixed income securities. This roll-out will initially incorporate interest rate swaps (denominated in U.S. Dollar, Euro, and Sterling) and credit default swaps (CDX, iTraxx, single names, and tranches) and will support the following workflows:
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