Markit acquires SwapsWire derivatives platform

Data provider Markit Group has agreed to buy SwapsWire, the trade confirmation network for OTC derivatives. The deal has been agreed in principle and is expected to close in early 2008 once legal formalities are complete. Speaking at a press conference to unveil the acquisition, Jeff Gooch, head of trade processing at Markit, said the plan is to combine SwapsWire’s confirmation capabilities with Markit’s trade processing workflow platform. This is intended to provide the OTC derivatives mark