23 May 2015

Markit acquires DTCC corporate actions validation service

17 June 2013  |  5209 views  |  0 Buy Road sign

Financial data outfit Markit has acquired the assets of Global Corporate Actions Validation Service from the Depository Trust & Clearing Corporation (DTCC). Financial terms of the deal were not disclosed.

The GCA Validation Service is used by brokerage firms, banks, hedge funds, investment managers and service providers to ensure accurate and timely processing of corporate actions.

With coverage of more than 1.4 million securities from over 170 countries globally, it is the largest provider of validated corporate actions information in the marketplace.

Post-acquisition, the service will continue to receive data from DTCC Source, as well as long-term providers IDC and Six Financial Information. Markit is also promising to add more sources, such as Euroclear Bank's corporate actions data for Eurobonds, to the database.

Kevin Gould, president, Markit, says: "The industry is focused on creating operational efficiencies, reducing risk and lowering fixed costs. The GCA Validation Service and its team of experienced professionals uniquely positions Markit to meet our customer needs."

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

22 May, 2013
09 May, 2012
19 December, 2011
02 November, 2011
13 April, 2011
12 January, 2011
18 May, 2010

Related company news

 
Your browser is unable to support Flash files.

Top topics

Most viewed Most shared
Cash overtaken by non-cash payments in the...
6493 views comments | 48 tweets | 31 linkedin
MasterCard launches personal payments serv...
5729 views comments | 15 tweets | 26 linkedin
US banks bid to crack down on 'card cracki...
5437 views comments | 8 tweets | 10 linkedin
UK opts out of European online payments se...
5427 views comments | 18 tweets | 15 linkedin
Metro Bank to offer consumer loans via Zop...
4605 views comments | 29 tweets | 20 linkedin

Featured job

to £100K base, 200K ote, stock options, benefits
London, UK

Find your next job