MarkitSERV > MarkitSERV FXCentralised Services

Markit Centralised FX Services help firms drive more efficient post-trade processes, mitigate operational risk and comply with regulatory-driven change.

Customers

  • Asset managers
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  • Banks
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  • Clearinghouses
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  • Corporates
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  • Dealers
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  • Exchanges
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  • Execution venues
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  • Fund administrators
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  • Hedge funds
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  • Prime brokers
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  • Inter-Dealer Brokers
MarkitSERV FX Centralised Services

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Product Summary

Markit’s Centralised FX Services are transforming post trade processing in FX, helping the industry eliminate the fragmented, often paper-based workflows that drive cost and operational risk, particularly in the processing of more complex derivatives. By centrally matching and/or affirming trade details, Markit automatically generates legal confirmations and creates a shared ‘golden copy’ of trade information that can be used to manage lifecycle events including clearing, trade reporting, compression and options expiry.

Handling all FX cash and derivative instruments, Markit’s Centralised FX Services are created in partnership with the industry, rapidly evolving to meet customer and regulatory demands.

    Key Benefits

    • Consolidated Connectivity

      Connecting key global industry participants – from global dealers, regional banks, asset managers, hedge funds and corporates, through to exchanges, ECNs, CCPs and trade data repositories.

    • Enhanced Efficiency

      Always looking to promote consensus and standards across the industry in a way that drives more efficient and effective back office processes.

    • Reduced Operational Risk

      Automated, centralised affirmations and confirmations significantly reduce the likelihood and impact of out trades on downstream processes.

    • Supporting Regulatory-Driven Change

      Helping industry participants adapt to new workflows and market practices mandated by regulators - from stricter reporting requirements to central clearing of OTC derivatives.

    Key Features

    • Affirmation
    • Confirmation
    • Clearing connectivity
    • Regulatory reporting
    • Options exercise management
    • Lifecycle event management
    • Compression
    • Novations

    Industry Insight

    • Ripping off the Band-Aids in FX post trade

      Now is the time to deploy modern FX post trade systems that are suited to an innovative, electronic market. The benefits of making the change far outweigh the risk. While new community-based approaches should be adopted to solve industry-wide challenges, there is ample opportunity for firms differentiate themselves through proprietary post trade technology.

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    • Overcoming fragmentation in the FX market

      Over the last decade fragmentation has become the defining characteristic in the global FX market. At the same time, growing volumes, changing regulation and radically lower thresholds for risk elevate the need for participants to optimise post trade technology infrastructure. The next step for the industry is to integrate with new centralised infrastructure that makes trade lifecycle management more efficient.

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    • FX clearing: what’s next?

      While regulators have paused their drive to require clearing of NDFs, the volume of FX derivatives voluntarily cleared by the industry is increasing. This comes amid a push to streamline post trade processes to reduce costs, complexity and operational risk. New infrastructure can help the industry scale for growth, improve resiliency and prepare for the day when clearing is mandatory.

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    • Defining the new FX post trade paradigm

      Over the last decade the foreign exchange market has experienced record growth in trade volume. Innovation in trade execution, the introduction of prime brokerage services and the entry of new participants trading a wider range of products have transformed FX derivatives markets. Post trade systems now need a similar transformation to keep pace with these and other fundamental changes.

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    Video

    Changing the way the FX market operates: FX options exercise