MarkitSERV, the electronic trade processing service for over-the-counter derivative transactions, has enhanced its connectivity and trade management support for buy-side clearing of credit default swap (CDS) transactions at ICE Clear Credit. The first production trades using MarkitSERV's enhanced service were cleared by ICE on November 28th.
MarkitSERV has been connected to ICE since 2011 and updated that connectivity earlier in 2012 to support the transition to ICE Clear Credit. The latest enhancement supports an additional ICE Clear Credit application programming interface (API), and allows clearing members the ability to perform take-up using their existing integration to ICE Clear Credit when the trades are submitted via MarkitSERV.
"With CDS clearing connectivity to ICE Clear Credit, ICE Clear Europe, CME, and LCH.Clearnet CDSClear, MarkitSERV is the only platform to provide trade routing to all active OTC credit clearinghouses," says Henry Hunter, head of product management at MarkitSERV.
MarkitSERV now connects 12 central counterparties (CCPs) that clear credit default swaps, interest rate derivatives, foreign exchange derivatives and equity derivatives. MarkitSERV has signed agreements to route trades to a number of additional clearinghouses soon to launch, and plans to connect to additional ones as they become operational.
More from Sell Side Technology
Updating your subscription status
Work with us on your Integrated Marketing Campaigns
WatersTechnology offers a full range of custom research, surveys, webcasts, video and whitepapers for firms looking to demonstrate thought-leadership through their marketing campaigns and generate sales leads.
19 Jun 2013
27 Jun 2013
10 Jul 2013
10 Sep 2013
Complex, dated and unwieldy data infrastructure is not uncommon among even the most progressive companies in the world of finance. As financial regulations...
With the launch of a new legal entity identifier (LEI) looming, the financial services industry needs to get ready to ensure efficient and timely implementation...