Markit to introduce loan market ID system

Markit is to introduce a loan identification system for the syndicated loan market along the lines of its Markit RED system for the CDS market.

The system will assign an individual identifier to each loan transaction. There will also be a numbering system for loan market participants.

Markit's identification system aims to reduce operational risk by ensuring that information transmitted is linked to the correct underlying loan and delivered to the right market participant. At present, financial in

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