Piece by Piece, Bank Loans See Upgraded Settlement Automation

Joe Widner, above, Scott Kostyra, and Markit's bank loans team say automation in the space is making progress. A&As are one example.

Market data provider Markit has, in one example just announced today, updated its electronic trade settlement service with enhanced functionality related to assignment and acceptance agreement (A&A) questions, which are required for transfer of loan asset ownership.

Those optional queries, which Markit estimates to have more than tripled—from 9.5 percent of all loans in 2009 to 31 percent today—will now be automatically updated within Markit's current ClearPar offering with answers electr