MarkitSERV provides independent connectivity to multiple OTC clearinghouses (CCPs) across asset classes – we deal with each CCP’s bespoke interface so you don’t have to.
Take advantage of our proven experience and expertise working with CCPs. We’ve been handling cleared trades since 2003 in the rates market and since 2009 for credit derivatives.
MarkitSERV is connected to all CCPs active with OTC clearing, and will continue to connect to new CCPs as they make their services available, meaning dealers and their clients are insulated from the complexity of multiple differing and evolving interfaces.
Clearing solution benefits MarkitSERV provides a comprehensive clearing workflow solution that links clients, clearing members, executing brokers and CCPs:
Reduced implementation costs: handle all CCPs and asset classes via a single interface
Extending dealer integration with MarkitSERV to clearing flows allows for efficient and accurate processing, reducing breaks and disputes
High degree of flexibility going forward as dominant CCPs become evident – low to no cost to switch CCPs or clearing members
Comprehensive audit trail and ability to track trade status throughout the trading day
MarkitSERV as the universal adaptor:
Avoids build to multiple bespoke CCP interfaces
Independent service provider
Reduced industry infrastructure build cost
Same-day clearing leveraging trade-date interface to CCPs
Common interface for cleared and non-cleared trades, leveraging existing connections
Third-party view and reporting functionality for fund administrators
No fees for buy-side clients
Connection options Clients can route trades to multiple CCPs through a single MarkitSERV connection. Depending on volume and infrastructure requirements, a range of options are available:
Web interface: log in and click to affirm, avoiding any development effort
Spreadsheet (CSV) upload: for clients who wish to upload batches of trades for matching prior to submission for clearing. MarkitSERV Trade Manager provides status and tracking information and upload validation
Programming Interface (API): for higher volume clients who are looking for a real-time FpML™ based API, MarkitSERV provides an MQ-based programming interface
Third-Party Vendors: MarkitSERV provides open access to third-party vendors through our programming interface. Please contact your vendor for availability
All forms of connectivity are provided free of charge to buy-side clients.
