MarkitSERV, the electronic trade processing service for OTC derivative transactions, has enhanced its connectivity and trade management support for buy-side clearing of credit default swap (CDS) transactions at ICE Clear Credit with additional support for the ICE Clear Credit API.
It also now allows clearing members to perform take-up using their existing integration to ICE Clear Credit when the trades are submitted via MarkitSERV, the firm says.
MarkitSERV is pleased to continue to work closely with ICE Clear Credit and to expand our capabilities related to clearing, says Henry Hunter, head of Product Management at MarkitSERV. With CDS clearing connectivity to ICE Clear Credit, ICE Clear Europe, CME, and LCH.Clearnet CDSClear, MarkitSERV is the only platform to provide trade routing to all active OTC credit clearinghouses.
MarkitSERV connects derivatives market participants to 12 CCPs that clear credit default swaps, interest rate derivatives, foreign exchange derivatives and equity derivatives, including CME, Eurex, ICE Clear Credit, ICE Clear Europe, ICE Clear US, Japan Securities Clearing Corporation, LCH.Clearnet (CDSClear, ForexClear and SwapClear), NASDAQ OMX, OCC and SGX. More than 2,500 buy-side firms use MarkitSERV to confirm/affirm and manage life cycle events for CDS trades, the firm says.
(CG)