The Depository Trust & Clearing Corporation (DTCC), which operates the trade information warehouse for credit derivatives, and MarkitServ will jointly operate an equity derivatives reporting repository. MarkitServ is a joint venture between the DTCC and data provider Markit.
The International Swaps and Derivatives Association was responsible for running the selection process and defining the terms of service.
Six companies presented proposals to an initial valuation committee comprising representatives from Isda's equity steering committee and the equity implementation group. A second round of presentations by the three short-listed firms to certain members of the equity steering committee took place in the week beginning October 12.
Other firms rumoured to have submitted proposals included Stockholm-based technology company TriOptima, which was selected to provide a trade repository for interest rate derivatives on September 16.
In its letter to the Federal Reserve Bank of New York on June 2, the Operations Management Group, a consortium of 27 broker-dealers, buy-side firms and industry associations, committed to record all interest rate derivatives trades by December 31 this year and all equity derivatives trades by July 31, 2010.
More on Equity Derivatives
BBVA's equity derivatives rebuild includes 'strong conviction' index
As global markets focus on Japan, China and India are set for upswing
Low volatility is acting as drag on the take-up of local indexes
Hedge funds holding their nerve in game of volatility limbo
Sign up for Risk.net email alerts
Nominated for two technology awards
Nominated for post trade technology award
Sponsored webinar: Collateral and counterparty tracking
Isda directors warn on fragmentation, access and liquidity - but expect problems to pass
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.