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Trading Connectivity Service

Streamline trade processing workflows across asset classes and meet regulatory obligations

New trading, clearing and reporting venues and evolving regulations for OTC derivatives trading demand greater connectivity and more complex trade workflows.

MarkitSERV connects trading counterparties, execution venues, dealers, prime and clearing brokers, asset servicers, clearinghouses and trade repositories, helping market participants to streamline trade processing workflows across asset classes and meet regulatory obligations. Unparalleled industry connectivity connects all participants for efficient counterparty access, increased processing efficiency, reduced operational risk, greater transparency and trading certainty.

Key benefits:

  • Efficiency – Remove the need to develop and maintain connectivity to multiple trade counterparties, execution venues, prime brokers, clearing brokers, clearinghouses and trade repositories
  • Transparency – Gain real-time visibility and tracking of confirmation, clearing and reporting statuses, with configurable reports generated at trigger points in workflow
  • Cost savings – Reduce costs with single, future-proofed connectivity to multiple counterparties and processing destinations. Improve efficiency through streamlined, automated end-to-end trade processing
  • Reduced risk – Reduce errors and reconciliation rates with process automation that requires minimal manual intervention

Functionality

Confirmation - MarkitSERV provides seamless links between counterparties for efficient trade matching, affirmation and execution of trade date legal confirmations. Buy-side customers access MarkitSERV's confirmation services through a single portal, affirming trades through simple point-and-click screens.

Clearing - MarkitSERV connects to all major clearinghouses for voluntary and mandatory clearing of OTC trades, across all asset classes, including FX NDF clearing (dealer and client) to new FX clearinghouses. By submitting trades for clearing through MarkitSERV, participants greatly reduce the cost and effort required to build and maintain direct connections to multiple clearinghouses. MarkitSERV maintains bespoke interfaces to each clearinghouse by providing customers with efficient access to multiple clearinghouses without the burden of supporting multiple differing and evolving connections.

Reporting – A single connection to MarkitSERV helps satisfy new and evolving regulatory reporting obligations for cleared and non-cleared OTC transactions, including EMIR and Dodd-Frank reporting requirements. In addition, you do not need to build, deploy and maintain connectivity to multiple trade repositories.

Trades processed for confirmation and clearing can be routed seamlessly to designated trade repositories to fulfill new regulatory reporting obligations. Regulatory reporting is also supported for transactions where only one party is connected to MarkitSERV.

Straight-Through Processing (STP) – MarkitSERV connects trading counterparties with global FX execution venues and other destinations, providing a single channel for trade notifications across multiple venues. It moves FX trade notifications seamlessly to internal and third-party middle and back office applications for post-trade processes, offering real-time STP for the efficient management of post-trade workflow.

MarkitSERV can deliver the details of executed trades in customer-specified formats, providing support for industry standards, including FIX and FpML.

Customers

  • Asset managers
  • Hedge funds
  • Pension funds
  • Asset services
  • Dealers
  • Interdealer brokers
  • Prime brokers
  • Futures commission merchants
  • Execution venues

Experts

Julian Chesser

He is responsible for the franchise across Asia Pacific, including all expansion into China and India. Mr. Chesser joined the firm in 2012 from Fidelity International, where he was COO for Fixed Income based in London. He was the Accountable Executive for a major technology re-stack including risk management and trading. He worked at J.P. Morgan from 1997 to 2002 in London, New York and Milan and was co-head of fixed income operations from 2000. Mr. Julian Chesser holds an LLB from the University of Warwick, UK, and completed his bar finals in London.

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Kirston Winters

Mr. Winters is co-head of product management for MarkitSERV, the largest, global service for processing OTC derivatives trades. He is also responsible for MarkitSERV's global cross-asset, real-time public and regulatory transaction reporting service that launched in 2011 and led product management for IHS Markit's MiFID II services.Prior to joining the firm in 2009, he served as director of business development at the DTCC Deriv/SERV LLC, subsidiary of the Depository Trust and Clearing Corporation (DTCC). Early in his career, he worked at Barclays Capital in London, where he held various roles in OTC derivatives. Mr. Kirston Winters earned a Bachelor of Science in Economics from the University of Manchester, UK.

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Events

IHS Markit Webinar 12 October 2021

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IHS Markit Webinar 25 August 2021

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IHS Markit User Group 07 July 2021

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The ISDA Amend team at IHS Markit is leading a ser (...)

IHS Markit Webinar 23 June 2021

EDM Modernization Webinar

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IHS Markit Webinar 22 June 2021

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IHS Markit is hosting a session to introduce a new (...)

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