Markit Signs 75 Firms to KYC Document Exchange Facility

LONDON - The collapse of Lehman Brothers has been a big driver for the take-up of the know your customer (KYC) document exchange facility from information provider Markit, and resulted in a growing demand for functionalities aimed at speeding up the process for traders to identify that the firm has the necessary documents on entities and counterparties and for back-office staff to manage the agreements, officials tell Inside Reference Data.

Markit first launched the service in May last year in a

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