MarkitSERV partners with voice brokers

MarkitSERV, the electronic trade processing service for OTC derivatives, has agreed Heads of Terms with four leading FX interdealer brokers to provide voice trade affirmation, regulatory reporting and clearing services for FX transactions.

First Published by e-Forex News: October, 2012

Keith Tippell

Keith Tippell

MarkitSERV, the electronic trade processing service for OTC derivatives, has agreed Heads of Terms with four leading FX interdealer brokers to provide voice trade affirmation, regulatory reporting and clearing services for FX transactions.  With a single connection into the MarkitSERV FX trade processing platform, BGC Partners, GFI Group, Tradition and Tullett Prebon would be the first four interdealer brokerage firms to benefit from fully-integrated voice affirmation, clearing and regulatory reporting workflows.

Keith Tippell, co-head of FX at MarkitSERV, said,  “We are very excited to be working with market leading brokers to help them to navigate successfully through the enormous data management and workflow challenges arising – now and in the future – from regulatory change.  Our innovative solution will address broad-based industry concerns about the impact of change, for example the generation and distribution of USIs, and will address the connectivity challenges all market participants face.”