Markit acquires DTCC stake in MarkitServ

Source: Markit

Markit, a leading, global financial information services company, today announced that it has acquired the ownership stake in MarkitSERV held by the Depository Trust and Clearing Corporation (DTCC).

Markit and DTCC founded MarkitSERV in 2009 as a joint venture that combined the firms' electronic trade processing services for OTC derivatives.

There will be no changes to the services provided by MarkitSERV to its more than 2,500 customers in the OTC derivatives industry. MarkitSERV will remain a separate entity, currently regulated by the Financial Conduct Authority in the UK.

Jeff Gooch will continue to be Chief Executive Officer of MarkitSERV and Global Head of Processing at Markit.

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