Markit Acquires DTCC Stake in MarkitSERV
The two companies founded MarkitSERV in 2009 by combining their electronic trade confirmation, and position reconciliation platforms, with the facility serving as a post-trade processing service for over-the-counter (OTC) derivatives transactions. Recently, MarkitSERV announced the launch of its Credit Center utility, which aims to mitigate failure risk and manage credit fragmentation among multiple clearing venues.
In a press release, the company stated that Jeff Gooch will remain as the overall CEO of MarkitSERV, which will remain an individual entity regulated by the UK Financial Conduct Authority. Financial terms were not disclosed.
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