04 December 2016
visit http://www.wolterskluwerfs.com

Markit adds Emir to global trade reporting tech

05 February 2014  |  1330 views  |  0 Source: Markit

Markit, a leading global diversified provider of financial information services, today announced that MarkitSERV is reporting over-the-counter derivative trades in rates, credit and equities for customers subject to the European Market Infrastructure Regulation (Emir).

The service went live in January 2014, ahead of the February 12th compliance date, in order to facilitate the loading of historical trades into a trade repository.

As detailed in the regulatory technical standards of the European Securities and Markets Authority (Esma), Emir requires EU counterparties to all derivative contracts to report certain trade information and details to a registered trade repository. Even before the first compliance deadline was set by Esma, MarkitSERV had sent several million trade records to the DTCC Derivatives Repository Ltd. on behalf of over a hundred firms.

Emir is the latest regulation covered by MarkitSERV's global trade reporting solution. MarkitSERV already provides trade reporting services for the trade reporting regimes of the following regulators: Australian Securities and Investments Commission (ASIC), Hong Kong Monetary Authority (HKMA), Japan Financial Services Agency (JFSA), Monetary Authority of Singapore (MAS), OTC Derivatives Regulators Forum (ODRF) and US Commodity Futures Trading Commission (CFTC).

MarkitSERV provides a complete Unique Transaction Identifier (UTI) service for a range of asset classes across all supported regimes, including Emir. MarkitSERV receives UTIs from trading venues and clearinghouses, can generate UTIs when they are not provided and enables users to send, receive and agree UTIs across all workflows. Under Emir, this helps ensure reporting is performed without duplication as required by Esma.

Henry Hunter, managing director and global head of derivatives processing at Markit, said: "Our global trade reporting solutions help market participants adapt to multi-jurisdiction regulation efficiently. MarkitSERV provides customers with a cross asset class service to manage all of their post trade requirements, including trade affirmation, trade confirmation, routing to clearing and reporting."

MarkitSERV is a global electronic trade processing service for OTC derivatives. Through MarkitSERV, industry participants have a single point of access to 15 clearinghouses, five trade repositories and more than 1,500 counterparties worldwide. MarkitSERV is also used by Swap Execution Facilities (Sefs) for trade routing to clearinghouses, confirmation and regulatory reporting.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comVisit contisgroup.comFind out more

Top topics

Most viewed Most shared
Royal Mint to issue digital goldRoyal Mint to issue digital gold
6514 views comments | 23 tweets | 21 linkedin
UK challenger bank Masthaven opens for businessUK challenger bank Masthaven opens for bus...
5645 views comments | 15 tweets | 13 linkedin
ING pulls plug on P2P payments app TwypING pulls plug on P2P payments app Twyp
5567 views comments | 16 tweets | 15 linkedin
Bank CEOs fret about ROI as startups drive IT arms raceBank CEOs fret about ROI as startups drive...
5557 views comments | 16 tweets | 20 linkedin
R3 and Calypso to develop blockchain trade confirmation systemR3 and Calypso to develop blockchain trade...
5536 views comments | 13 tweets | 12 linkedin

Featured job

to Six-Figure Base, Bonus, Benefits
London, UK

Find your next job