Markit
DTCC and Markit ready for MarkitServ launch
London-based data provider Markit and the New York-based Depository Trust and Clearing Corporation (DTCC) are ready to launch MarkitServ - a joint venture to provide trade-processing services to the over-the-counter derivatives markets.
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Regulatory demands for the derivatives industry to improve operational efficiency have become increasingly stringent in the past year. To meet the targets, dealers say interoperability between technology platforms is vital. But in the competitive vendor…
Trade set and match
The ultimate objective of regulators and participants in the derivatives business is to see submission and matching on the date of trade. How far is the industry from reaching this goal? By Ryan Davidson
Markit and DTCC's OTC services merger could close by end of June
The merger of London-based Markit's and New-York-based Depository Trust & Clearing Corporation's (DTCC) trade-processing services is expected to become official within six weeks.
Auctions held on credit derivatives referencing three US companies
Three credit event auctions run by data vendor Markit and broker Creditex have determined final settlement values for credit derivatives trades referencing Missouri-based cable operator Charter Communications, Pennsylvania-based financial services firm…
Auction held on CDSs referencing Station Casinos
An auction run by data vendor Markit and broker Creditex yesterday determined final settlement values for credit derivatives trades referencing Las Vegas-based casino operator Station Casinos.
Low recovery rates set for Aleris International LCDS
Final settlement values for credit derivatives trades referencing Ohio-based aluminum products manufacturer Aleris International were determined during an auction held today by data vendor Markit and broker Creditex.
Low recovery rates set for Ferretti LCDS
At an auction held today, data vendor Markit and broker Creditex determined a final settlement value of 10.875% for loan-only credit default swaps (LCDS) referencing Italian luxury yacht manufacturer Ferretti, meaning protection sellers would need to pay…
Markit addresses documentation risk
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Auction fixes low recovery rates for Smurfit-Stone CDS
At an auction held today, data vendor Markit and broker Creditex determined final settlement values for credit derivatives trades referencing St Louis- and Chicago-based paper-packaging company Smurfit-Stone Container.
Auctions held for CDSs referencing Nortel Networks
An auction run by data vendor Markit and broker Creditex today determined final settlement values for credit derivatives trades referencing Toronto-based telecommunications company Nortel Networks Corp.
Auction sets final settlement values on Sanitec LCDS
An auction run by data vendor Markit and broker Creditex has determined final settlement values for credit derivatives trades referencing Sanitec first- and second-lien loans.
Clearing CDS for lift-off
A new single-name North American credit default swap (CDS) contract, due to be launched next month, is expected to bring greater standardisation to the market and pave the way for central clearing.
Auction sets settlement values for LyondellBasell companies
An auction run by data vendor Markit and broker Creditex determined final settlement values for credit derivatives trades referencing three US-based subsidiaries of Netherlands-based chemical company LyondellBasell, today.
Fiscal strain poses challenges for monolines
Continuing fiscal strain has heightened concerns over the fate of the new municipal monoline bond insurers.
Buy-side firms scramble to meet novation deadline
Derivatives technology vendors have reported a significant upturn in activity among buy-side firms, looking to meet a February 28 deadline for processing all credit derivatives novation consents through electronic platforms.
Ecuador recovery set at 31.375% in first sovereign CDS auction
The recovery rate for government bonds issued by the Republic of Ecuador was set at 31.375% today, in an auction to cash-settle sovereign credit default swap (CDS) contracts linked to the country's debt.
Auction sets 1.5% recovery on Tribune CDS
A final settlement value of 1.5% was set for credit default swaps (CDS) referencing Tribune during an auction today. A price of 23.75% was set for loan credit default swaps (LCDS) referencing the company.
Hawaiian Telcom LCDS recovery set at 40.125%
A final price of 40.125% was set on cash-settled loan credit default swaps (LCDS) trades referencing Hawaiian Telcom during an auction today.
Auction sets 52.5% recovery on Masonite LCDSs
A final settlement value of 52.5% was set for loan credit default swap (LCDS) trades referencing first-lien loans to Ontario-based door manufacturer Masonite, during a cash-settlement auction held today.
UK CDS spreads up
The cost of credit protection on UK banks increased in early trading this morning, while US financial institutions experienced mixed market sentiment.
Dealers vote for third LCDX auction
The International Swaps and Derivatives Association will publish terms for a cash-settlement auction on loan credit default swaps (LCDSs) referencing Hawaiian Telecom over the coming weeks.