Welcome!

News Feed Item

MarkitSERV and Misys Expand Partnership to Enhance FX Client Clearing Capabilities

LONDON and NEW YORK, February 11, 2013 /PRNewswire/ --

Misys CMS customers to benefit from simple, regulation-ready, FX clearing workflow solution

MarkitSERV, the most widely used electronic trade processing service for over-the counter (OTC) derivative transactions and Misys, the global leader in treasury and capital markets solutions, today announced they have partnered to offer a highly efficient, end-to-end solution for Misys Confirmation Matching Service (CMS) customers to deliver foreign exchange (FX) derivative trades to central clearing counterparties (CCPs).  

This offering will integrate the market-leading MarkitSERV FX clearing gateway - the single point of access to all FX CCPs used by executing brokers, clearing brokers, trading venues and buy side firms - with the Misys CMS, the premier post-trade treasury solution used by over 1,000 banks, brokers, fund managers and corporate treasurers to improve trading efficiency and reduce risk. The connectivity between Misys and MarkitSERV offers Misys CMS customers the benefit of seamless access to all FX CCPs and other FX market participants.

The partnership will allow Misys CMS customers to use MarkitSERV's SWIFT interface (and industry-standard SWIFT MT300 messages), MarkitSERV's connectivity for FX clearing validation and clearing broker acceptance (as appropriate) and its network to transmit trade notifications to designated FX CCPs.  As a result, CMS clients will be equipped to centrally clear OTC FX transactions, as required by Dodd-Frank and EMIR.  Other jurisdictions are expected to also make it mandatory to clear FX.    

Keith Tippell, Director and Co-Head of FX at MarkitSERV, said: "In this fast-changing and uncertain environment, our collaboration with Misys leverages the synergies between our respective services to deliver superior, scalable and high performance access to end-to-end processing of new FX clearing flows to all CMS customers.  Combined with our partnership with SWIFT to receive trade messages and deliver cleared status notifications via the SWIFT network, and our unrivalled FX CCP connectivity, this collaboration reinforces our position at the forefront of regulatory processing efficiency in the FX market."

Gilmore Bray, Director, Misys Global Managed Services, said: "Our partnership with the leading clearing gateway, MarkitSERV, is a significant enhancement to the Misys Confirmation Matching Service as it enables our clients to view through a single window the end-to-end status of FX trades requiring central clearing. Misys CMS will utilise the SWIFT network to deliver trades to MarkitSERV on behalf of our clients, eliminating any infrastructure investment or ongoing development cost to comply with the regulatory requirements. Misys CMS is dedicated to stay one step ahead of market changes so that our customers are well positioned in advance of regulatory changes."

MarkitSERV's award-winning FX clearing solutions legally confirm and route OTC FX transactions to FX CCPs and provide full support for client clearing, allocation of block trades and regulatory reporting.  MarkitSERV is the only middleware provider with live connectivity to LCH, SGX and CME for FX clearing and MarkitSERV will continue to connect to any other CCPs that offer FX clearing.  To date, MarkitSERV has processed 99.9% of all FX trades which have been centrally cleared.

Misys and MarkitSERV have also partnered to deliver solutions for other asset classes.  These include the integration of MarkitSERV and MarkitSERV Trade Manager with the Misys Sophis and Summit platforms to automate rates and credit clearing for buy-side clients.

Notes to Editors:

About MarkitSERV

MarkitSERV, jointly owned by The Depository Trust & Clearing Corporation (DTCC) and Markit, provides a single gateway for OTC derivatives trade processing.  By integrating electronic allocation, trade confirmation and portfolio reconciliation, MarkitSERV provides an end-to-end solution for post-trade transaction management of credit, interest rate, equity and foreign exchange derivatives.  MarkitSERV also connects dealers and buy-side institutions to central clearing counterparties and trade repositories.  For more information, see http://www.markitserv.com.

MarkitSERV's trade processing services for FX include connectivity to central clearing venues and an array of trade capture, post-trade messaging and workflow tools.  In September 2011, MarkitSERV acquired Logicscope and its TradeSTP trade processing technology.  TradeSTP's extensive post trade connectivity to more than 70 liquidity providers (banks, brokers, exchanges and electronic crossing networks) and 400 financial institutions (banks, hedge funds, asset managers and corporates) is now fully integrated within the MarkitSERV platform.

About Misys

Misys is at the forefront of the financial software industry, providing the broadest portfolio of banking, treasury, trading and risk solutions available on the market. With 1,800 customers in 120 countries our team of domain experts and partners has an unparalleled ability to address industry requirements at both a global and local level.

Misys was formed by the merger of Misys with Turaz. Combined they are able to address all customer requirements across both the banking and trading book businesses. Misys is the trusted partner that financial services organisations turn to for help solving their most complex problems.

Find out more at  http://www.misys.com

For further information, please contact:
Alex Paidas
Director, Corporate Communications
Markit
Telephone: +1-212-205-7101
Email: [email protected]

Edward Taylor
Global Head of Public Relations
Misys
+44(0)20-3320-5530
[email protected]

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web ...
Redis is not only the fastest database, but it has become the most popular among the new wave of applications running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 18th Cloud Expo, Dave Nielsen, Developer Relations at Redis Labs, shared the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, will share examples from a wide range of industries – includin...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Phil Hombledal, Solution Architect at CollabNet, discussed how customers are able to achieve a level of transparency that e...
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, showed how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningful f...
"We are the public cloud providers. We are currently providing 50% of the resources they need for doing e-commerce business in China and we are hosting about 60% of mobile gaming in China," explained Yi Zheng, CPO and VP of Engineering at CDS Global Cloud, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at 20th Cloud Expo, Ed Featherston, director/senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Between 2005 and 2020, data volumes will grow by a factor of 300 – enough data to stack CDs from the earth to the moon 162 times. This has come to be known as the ‘big data’ phenomenon. Unfortunately, traditional approaches to handling, storing and analyzing data aren’t adequate at this scale: they’re too costly, slow and physically cumbersome to keep up. Fortunately, in response a new breed of technology has emerged that is cheaper, faster and more scalable. Yet, in meeting these new needs they...
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.