Markit, the London-based data provider, has signed asset managers CQS as a client of its trade-processing service.CQS, also based in London, has $5 billion under management. The service allows counterparties to affirm over-the-counter derivatives trades, and confirm those using links to bodies such as the Depository Trust and Clearing Corporation.
Jason Parker, head of middle office at CQS, said the company felt the main strength of Markit’s service was its ability to facilitate OTC processing across counterparties and asset classes, and to provide a comprehensive audit trail.
Markit’s Trade Processing service was inherited from Communicator, headquartered in White Plains, New York. The trading technology company was acquired by Markit in May (See: Markit acquires derivatives trading technology provider).
More on Infrastructure
US regulatory concerns about liquidity of government securities collateral could be resolved by access to the Fed’s discount window, CCP officials say
High-frequency traders have been viewed with suspicion for some time. Now critics claim exchanges are conspiring with the traders to develop tools that benefit them and disadvantage ordinary investo...
The benefits of local trade repositories outweigh the possible disadvantages of multiple reporting requirements, says executive director of HKMA’s financial infrastructure unit
Sign up for Risk.net email alerts
Sponsored video: MarketAxess
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.