Markit and Creditex launch trade compression platform

Creditex and Markit have announced a joint initiative to launch an industry-wide portfolio compression platform for the credit derivative market. The platform is designed to support the commitments made by market participants to the New York Federal Reserve relating to improved operational efficiency and risk reduction. According to Markit, the platform was developed in response to ISDA's request on behalf of major credit derivative dealers; it is designed to mitigate operational risk and im