Markit to launch electronic service for FX options

  Markit has announced the development of a new comprehensive service for electronic trade confirmation and exercise management for the FX options market.

First Published by e-Forex News: October, 2014

Markit has announced the development of a new comprehensive service for electronic trade confirmation and exercise management for the FX options market. The service will be deployed by MarkitSERV, Markit’s trade processing service for the OTC derivatives industry. Barclays, Citi, HSBC, J.P. Morgan, Morgan Stanley, Nomura, RBS, UBS and major buyside institutions, including Citadel’s Global Fixed Income Fund, are working with Markit to design the new service that will provide electronic legal trade confirmation and an electronic system to manage the exercise processes for FX options. This post trade solution will help participants reduce operational risk and become more efficient in their management of FX options trades.