TwoFour and Logiscope, which was acquired earlier this year by Markit, are partnering to create an interface that delivers enhanced FX post-trade solutions to mutual clients.
MarkitSERV TradeSTP, the post trade technology platform developed by Logicscope, consolidates, transforms and routes normalized trade messages to TwoFour for processing. As trades hit the Two Four interface, MarkitSERV TradeSTP converts them in real time into FpML format, which allows for uniform delivery to TwoFours FX back-office solution.
With all messages in the same format, TwoFour says it is able to more efficiently manage cross-asset position-keeping and credit utilization, supporting more complex processing and tighter integration of post-trade workflows. FX trade types include spot, forward, swaps and NDFs (non-deliverable forwards).
Efficient management of the post trade lifecycle requires that service providers work closely together, leveraging their collective expertise to meet the precise and challenging requirements of different client segments, says Nick Dyne, head of business development for MarkitSERVs FX business and founder of Logicscope. We are delighted to be working closely with TwoFour to enhance the post trade experience for our clients.
Chris Davis, co-founder and global head of sales at TwoFour, adds: Our partnership with Logicscope and MarkitSERV brings together our specialized state-of-the art technology with award-winning market data messaging and data integration software. Were very excited to be working with MarkitSERV to deliver added value and benefits to our mutual clients.
(CG)