Markit Group, the UK-based pricing, valuation and data provider, has acquired Communicator, a technology provider of automated solutions for the processing of over-the-counter derivatives, secure real-time communications, and compliance and counterparty management to the financial industry. Leo Schlinkert, president and chief executive of New York-based Communicator, will join Markit’s executive team.This addition to Markit’s current offering will provide its clients with enhanced trading and risk management capabilities across all products and asset classes. “We are bringing together complementary services, which reduce risk and improve efficiency. By joining forces with Communicator, we can provide our clients more effectively with a wealth of aggregated information and pricing, ” said Markit chief executive Lance Uggla.
Founded in 1999, Communicator provides buy- and- sell-side financial firms with real-time communications, automated solutions for OTC derivatives trade processing, compliance and counterparty management. The company also provides identity management and information hub technology, which drives Bond.Hub, the bond research platform. The company is based in White Plains, New York.
“The challenges that lie ahead in the shape of rising transaction volumes in the OTC derivatives markets will continue to test the industry’s operational processes and attract regulatory concern,” said Communicator’s Schlinkert. “The combination of Markit’s pricing and valuation services with Communicator’s OTC derivatives post-trade platform meets these challenges by offering an end-to-end service including trade confirmation, pricing, valuation and trade lifecycle events, which will provide a significant benefit to the market-place.”
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