Following an announcement this past January, CME Group and IHS Markit have formally launched a joint venture, dubbed OSTTRA, that will encompass offerings intended to ease the post-trade operational challenges of over-the-counter (OTC) transaction processing for interest rate, foreign exchange (FX), equity, and credit asset classes. CME Group and IHS Markit each own half of… Read More >>
CME Group & IHS Markit to Form Post-Trade JV
Joint Venture to Launch in Summer 2021 CME Group, an operator of derivatives trading venues, and IHS Markit, an information and analytics vendor, are forming a joint venture of post-trade processing and risk mitigation services that will bring together CME Group’s Traiana, TriOptima, and Reset companies with IHS Markit’s MarkitSERV. Traiana, TriOptima and Reset offer… Read More >>
Abacus Group Buys Hedgepoint Solutions
IT Consultancy to Join Abacus Group Abacus Group, which hosts IT solutions and applications for alternative investment firms, is acquiring Hedgepoint Solutions, a boutique IT consulting firm based in New York City whose clients will be able to use the Abacus Cloud platform. Hedgepoint was founded in 2001 to offer technology services to businesses across… Read More >>
Startup Dakota Wealth Management Picks Pershing Advisor Solutions
New Firm Taps Pershing Advisor Solutions BNY Mellon’s Pershing Advisor Solutions has been picked as a custody partner for Dakota Wealth Management, a newly launched investment management firm. Dakota, headquartered in Palm Beach Gardens, Florida, currently manages $600 million in client assets, according to a statement, which notes that the average registered investment advisor… Read More >>
IHS Markit to Sell MarkitServ & Acquire Ipreo
Financial data vendor IHS Markit is moving to divest itself of its MarkitServ derivatives processing business, and to acquire Ipreo, a software solutions and data provider whose complementary offerings will result in more comprehensive offerings, officials say. Officials at IHS Markit say the provider of securities trading information, analytics and solutions, is willing to pay… Read More >>
More Global Banks Test or Explore Blockchain
The bandwagon for blockchain and distributed ledger technology (DLT) is getting crowded as four major global banks have just completed a battery of tests in which the cutting-edge technology played a key role in credit default swap (CDS) processing. At the same time, key players in Japan led by Nomura Research Institute (NRI) officials are… Read More >>
Fears Grow Over High-Impact Attack: DTCC Survey
Risk Managers’ Fears Grow Over High-Impact Event: Survey Fears over the threat of “a high-impact event” is increasing among risk managers, according to the latest DTCC Systemic Risk Barometer Survey. The new survey on risk trends among those in the financial services industry shows that 61 percent of risk managers “believe the probability of a… Read More >>
SwapClear to Use Markit’s New Netting Service
The SwapClear clearinghouse is using a netting synchronization service for cleared, over-the-counter (OTC) derivatives just launched by financial information services vendor Markit. Markit is introducing the service in a bid to help banks “automatically update their risk systems after netting and compression activity at their clearing houses,” say vendor officials. “Netting exposures within a clearing… Read More >>
MarkitSERV Connects to KRX
MarkitSERV, the electronic trade processing service for over-the-counter (OTC) derivatives offered by financial information services firm Markit, is now connected to the Korea Exchange (KRX), according to a company statement. KRX began clearing interest rate swaps in March 2014, and mandatory clearing of interest rate swaps denominated in Korean won (KRW) began on June 30…. Read More >>
Markit Feed Updates Portfolio Valuations
Markit, a provider of financial information services, reports that customers of its Portfolio Valuations service can now elect to have their portfolios updated automatically with a real-time trade feed from MarkitSERV, the company’s electronic trade processing service. Authorized customers will have their over-the-counter (OTC) derivative trades captured and processed through MarkitSERV, thereby eliminating the need… Read More >>
