Markit Acquires the Technology Assets of DTCC Loan/SERV LLC
- The important acquisition will help Markit foster and develop new cash settlement functionality across its loan trade settlement platforms.
Markit (Nasdaq:MRKT), a comprehensive global provider of financial information services, has acquired the position reconciliation technology assets of the Depository Trust & Clearing Corporation (DTCC) Loan/SERV LLC, according to a Markit statement.
DTCC Loan/SERV LLC is a subsidiary of the broader DTCC organization. The Loan/SERV operation boasts nearly 400 asset managers, collectively representing over 6,000 funds across globally syndicated loan markets.
The acquisition is important as it will help allow Markit to foster and develop new cash settlement functionality across its loan trade settlement platforms in order to better harmonize asset delivery with Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term, whilst reducing risk, and improving overall efficiency.
Per the transaction terms, the DTCC will continue to run its Loan/SERV application for Markit until it is fully assimilated into Markit’s Processing division. Overall however, the transaction is slated to close by January 21, 2016 pending regulatory approvals – as a result, the transaction is not expected to Yield Yield A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a Read this Term any substantial impact on Markit’s financial results for the 2016 fiscal year.
According to Scott Kostyra, Managing Director and Head of Loan Settlement in Markit’s Processing division, in a recent statement on the acquisition: “Adding position reconciliation is an important step for our loan franchise as we integrate Loan/SERV's position reconciliation service into our Markit Clear loan inventory platform and further enhance the functionality provided to lenders and agent banks.”
“The combination of the data from Loan/SERV with the real time position data in Markit Clear will unify the experience for lenders and help them operate more efficiently by reducing the number of systems required to manage loan assets,” he added.
Market made headlines last month after it constructed a $200 million accelerated share repurchase in tandem with several leading banks, following an earlier multi-tiered share repurchase in the 2015 year. During the summer, Markit had originally launched a secondary public offering of its common shares to investors. The new public offering saw roughly 24.5 million common shares for sale, having granted underwriters the right to purchase up to approximately 1.7 million additional common shares from the selling shareholders.
Markit (Nasdaq:MRKT), a comprehensive global provider of financial information services, has acquired the position reconciliation technology assets of the Depository Trust & Clearing Corporation (DTCC) Loan/SERV LLC, according to a Markit statement.
DTCC Loan/SERV LLC is a subsidiary of the broader DTCC organization. The Loan/SERV operation boasts nearly 400 asset managers, collectively representing over 6,000 funds across globally syndicated loan markets.
The acquisition is important as it will help allow Markit to foster and develop new cash settlement functionality across its loan trade settlement platforms in order to better harmonize asset delivery with Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term, whilst reducing risk, and improving overall efficiency.
Per the transaction terms, the DTCC will continue to run its Loan/SERV application for Markit until it is fully assimilated into Markit’s Processing division. Overall however, the transaction is slated to close by January 21, 2016 pending regulatory approvals – as a result, the transaction is not expected to Yield Yield A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a A yield is defined as the earnings generated by an investment or security over a particular time period. This is in typically displayed in percentage terms and is in the form of interest or dividends received from it.Yields do not include the price variations, which differentiates it from the total return. As such, a yield applies to various stated rates of return on stocks, fixed income instruments such as bonds, and other types of investment products.Yields can be calculated as a ratio or as a Read this Term any substantial impact on Markit’s financial results for the 2016 fiscal year.
According to Scott Kostyra, Managing Director and Head of Loan Settlement in Markit’s Processing division, in a recent statement on the acquisition: “Adding position reconciliation is an important step for our loan franchise as we integrate Loan/SERV's position reconciliation service into our Markit Clear loan inventory platform and further enhance the functionality provided to lenders and agent banks.”
“The combination of the data from Loan/SERV with the real time position data in Markit Clear will unify the experience for lenders and help them operate more efficiently by reducing the number of systems required to manage loan assets,” he added.
Market made headlines last month after it constructed a $200 million accelerated share repurchase in tandem with several leading banks, following an earlier multi-tiered share repurchase in the 2015 year. During the summer, Markit had originally launched a secondary public offering of its common shares to investors. The new public offering saw roughly 24.5 million common shares for sale, having granted underwriters the right to purchase up to approximately 1.7 million additional common shares from the selling shareholders.