Buy side backs trueEX in tussle with Markit

Asset managers worry legal dispute could force trueEX out of business

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Derivatives users on the buy side are alarmed that trueEX’s legal dispute with Markit could spell the end of the start-up swap execution facility (Sef).

The start-up derivatives trading venue sued Markit on May 8 after the vendor allegedly threatened to terminate access to its post-trade processing platform for interest rate swaps, known as MarkitSERV – a move trueEX claims would force it to shut down its Sef and post-trade services business. trueEX’s main liquidity providers use MarkitSERV to

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