Centralized FX Services

Drive more efficient post-trade processes, mitigate operational risk and comply with regulatory-driven change

MarkitSERV’s Centralized FX Services are transforming post-trade processing in FX, helping the industry eliminate the fragmented, often paper-based workflows that drive cost and operational risk, particularly in the processing of more complex derivatives. By centrally matching and/or affirming trade details, legal confirmations are automatically created, creating a shared ‘golden copy’ of trade information that can be used to manage lifecycle events including clearing, trade reporting, compression and options expiry for all FX cash and derivative instruments.

Our Centralized FX services were created in partnership with the industry to meet rapidly evolving customer and regulatory demands.

Key features include:

  • Affirmation
  • Confirmation
  • Clearing connectivity
  • Regulatory reporting
  • Options exercise management
  • Lifecycle event management
  • Compression
  • Novations

Key benefits:

  • Consolidated connectivity – Connect with key global industry participants – from global dealers, regional banks, asset managers, hedge funds and corporates, to exchanges, ECNs, CCPs and trade data repositories
  • Enhanced efficiency – Leverage our ongoing efforts to promote consensus across the industry in a way that drives more efficient and effective back office processes
  • Reduced operational risk – Reduce the likelihood and impact of out trades on downstream processes with automated, centralized affirmations and confirmations
  • Support for regulatory-driven change – Adjust to new workflows and market practices mandated by regulators more easily - from stricter reporting requirements to central clearing of OTC derivatives

Matched trade population via MarkitSERV FX

Industry Insight

Ripping off the Band-Aids in FX post trade

Now is the time to deploy modern FX post trade systems that are suited to an innovative, electronic market. The benefits of making the change far outweigh the risk. While new community-based approaches should be adopted to solve industry-wide challenges, there is ample opportunity for firms differentiate themselves through proprietary post trade technology.

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Overcoming fragmentation in the FX market

Over the last decade, fragmentation has become the defining characteristic in the global FX market. At the same time, growing volumes, changing regulation and radically lower thresholds for risk elevate the need for participants to optimize post-trade technology infrastructure. The next step for the industry is to integrate with new centralized infrastructure that makes trade lifecycle management more efficient.

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FX clearing: What’s next?

While regulators have paused their drive to require clearing of NDFs, the volume of FX derivatives voluntarily cleared by the industry is increasing. This comes amid a push to streamline post-trade processes to reduce costs, complexity and operational risk. New infrastructure can help the industry scale for growth, improve resiliency and prepare for the day when clearing is mandatory.

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Defining the new FX post-trade paradigm

Over the last decade, the foreign exchange market has experienced record growth in trade volume. Innovation in trade execution, the introduction of prime brokerage services and the entry of new participants trading a wider range of products have transformed FX derivatives markets. Post-trade systems now need a similar transformation to keep pace with these and other fundamental changes.

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  • Asset managers
  • Banks
  • Clearinghouses
  • Corporates
  • Dealers
  • Exchanges
  • Execution venues
  • Fund administrators
  • Hedge funds
  • Prime brokers
  • Inter-Dealer Brokers

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