| The Markit Auction Platform is an asset-neutral, state of the art service that promotes efficiency and transparency in a variety of markets. |
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| Product summary: |
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The Markit Auction platform provides comprehensive auction and auction management services across asset classes. Since 2005, Markit has been responsible or jointly responsible for administering more than 130 auctions worldwide.
The Markit Auction Platform was originally developed for credit event auctions in conjunction with the International Swaps and Derivatives Association and Creditex. Credit event auctions are the process for valuing credit derivatives after a default. Today, the Platform is compatible with a full array of financial assets, as well as the unique requirements of multiple types of environmental credits, including emission permits and water quality credits. |
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| Key benefits: |
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| Independence: Markit’s auction services are designed to enhance efficiency and transparency in a variety of markets. Markit is independent and does not make markets or invest |
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| Expertise: Markit works closely with auction sponsors, regulators, clearers, and participants alike to deliver world class auction infrastructure and operations processes |
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| Multi-asset: the Markit Auction Platform is designed to handle the requirements of multiple asset classes |
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| Transparent: our process, methodology, results and documentation, as defined by auction sponsors, are available to all participants. Markit also provides auction process training and education for participants and other interested parties |
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| Key functions: |
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| Connectivity: The Markit Auction Platform connects all auction participants: bidders, custodian and settlement agents, registries, auction monitors and execution facilities |
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| Configurability: our service is configurable to multi-asset and multiple auction parameters and can meet most auction requirements |
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| Reliability: the platform is a time-tested, dependable component of market-critical infrastructure |
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| Security: auctions are administered by Markit in a highly secure environment |
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| Tracking: The auction proceedings and results are fully auditable |
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