Markit and the DTCC unveil OTC derivatives joint venture

Jointly owned by the DTCC and Markit, MarkitSERV will combine the DTCC Deriv/SERV and Markit Wire trade confirmation platforms to cover all major asset classes, including credit, interest rate, equity and commodity derivatives. It will connect multiple market participants and execution venues to downstream processing platforms such as DTCC's Trade Information Warehouse for credit default swaps (CDS).

MarkitSERV will also connect to various central counterparty platforms for interest rate swaps