Markit acquires SwapsWire

London-based data services provider Markit has agreed to acquire electronic trade confirmation firm SwapsWire.

Markit plans to combine the SwapsWire trade confirmation service with its own trade-processing workflow platform to serve the over-the-counter derivatives markets. Markit says it will have more than 200 buy-side institutions, 50 dealers and 45 interdealer brokers as clients for the enhanced product.

"With the relentless growth of the OTC derivatives markets continuing to put pressure on

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