Financial Services Post Trade Processing

MarkitSERV

Minimize the costs and complexities of OTC trade processing

MarkitSERV provides end-to-end trade processing and workflow solutions that support all participants in OTC trading from post-trade notices of execution, trade confirmation and allocations to clearing and reporting.

Ongoing OTC market structure changes are altering the way the industry operates, creating an intricate web of connectivity, data management and trade processing requirements. Rapid growth in new trading, reporting and clearing venues globally, along with the associated connectivity and processing demands, are increasing pressure on the middle and back office infrastructures of buy-side and sell-side participants. For all parties, the costs associated with compliance with new and evolving OTC regulations while maintaining operational flexibility are higher than ever.

MarkitSERV helps industry participants meet these challenges, while minimizing the cost and complexity of running their business. By integrating processes along the OTC transaction lifecycle from post-trade notification and confirmation, to allocations and regulatory clearing and reporting, we provide end-to-end, multi-asset trade processing solutions.

MarkitSERV supports a broad range of asset classes and products, working continuously with the global financial industry to ensure swift and efficient coverage of new products.

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CME Group and IHS Markit to Form Leading Post-Trade Services Joint Venture for OTC Markets.

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Current coverage includes:

Credit

The majority of credit derivative products available to trade today, including all standardized transaction types introduced under the ISDA CDS “Big Bang” Protocol

Equity

Single-name index and share transactions globally for options, total return swaps, variance swaps, dividend swaps and corresponding sub-products, including variance, barrier, spread, butterfly, straddle, strangle and exotic options, and dispersion variance swaps

FX spot, forwards, options and non-deliverable forwards (NDF)

Interest rates

Interest rate swaps (IRS), forward rate agreements (FRA), overnight index swaps (OIS), ZC inflation swaps, non-deliverable transactions for IRS and OIS, cross-currency interest rate swaps, cross-currency basis swaps, basis swaps, swaptions, caps and floors

Key benefits

Extensive coverage: Support trade processing requirements for cleared and non-cleared transactions across all major asset classes
Unparalleled global network: Benefit from connected execution venues (including SEFs), dealers, interdealer brokers, futures commission merchants, asset servicers, clearinghouses, repositories, buy-side institutions and all other participants across the transaction lifecycle
Automated trade workflow: Automate your processing workflows through the transaction lifecycle, from trade confirmation and position management to clearing and regulatory reporting destinations
Simplified regulatory processing: Use a single point of access to multiple global clearing and reporting destinations, reducing the cost and complexity of complying with multiple regulatory obligations
Flexible connectivity: Make use of configurable connectivity and service access options, including secure, web-based UIs, API interfaces, multiple file upload options and bespoke integration directly to middle and back office environments

Products and Solutions

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Credit Novation Consent
Data Management Service (DMS)
DSMatch
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Trade Manager

Experts

John Stewart

He is responsible for product development, commercial strategy and partnerships to advance MarkitSERV’s leadership position OTC derivatives and FX markets.MarkitSERV is a multi asset class service for the management of trade confirmation, clearing and regulatory reporting. It also offers a comprehensive suite of FX software. More than 2,500 firms use MarkitSERV and the network it provides to improve efficiency, reduce risk in OTC derivatives and FX operations and connect with counterparties, clearinghouses and trade repositories.Previously, John was co-head of the Risk and Regulatory Compliance Solutions businesses at IHS Markit, responsible for managing strategic initiatives, product and business development in product lines including KYC, KY3P, Counterparty Manager and Tax Solutions.He joined IHS Markit in 2016, after many years in institutional and investment banking. Over 11 years at UBS, he held multiple positions including from global head of investment banking operations and chief data officer. He also served as UBS’ UK group COO with a specialization in complex change management and operational leadership. Earlier in his career, John worked at JPM Morgan for 11 years in multiple operations and technology roles in derivatives and securities businesses in London and New York. John is a Chartered Accountant and holds a masters in history from Oxford.

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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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