Market Leaders in Trade Processing Team Up to Reduce Risk, Improve Efficiency

London 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.

In response to customer demand for a more secure, reliable and streamlined operational environment, the new company will provide a single gateway for confirming over-the-counter (OTC) derivative transactions globally. This will allow buy-side and sell-side OTC derivative market participants to confirm trades and to gain access to additional services provided by Markit and DTCC through a common portal.

The new company will comprise Markit’s recently acquired Markit Wire platform (formerly SwapsWire) as well as its other trade processing services such as Markit Trade Manager, Markit Tie Out, and Markit PortRec. DTCC will ...   more »