Markit's Red now free for smaller buy-side firms

Data provider Markit Group has created a free licence for the Markit Reference Entity Database (Red), aimed at smaller buy-side firms.Firms with low CDS trading volumes that use the Depository Trust & Clearing Corporation's DerivServ platform for trade confirmation will not be charged a fee for using the database, according to the terms of the new licence.Markit Red is used to identify reference entities and reference obligations for CDS contracts, reducing legal and operational risk. The se