Markit streamlines CCP for FX venues

Markit a leading technology provider to banks and financial institutions has launched a new middleware feature that will enhance clearing of FX. The new product is working with LCH, CME & SGX.

Clearing of OTC FX has been limited to CLS bank who have the crunch of the share. LCH is set to unveil a new system to compete alongside CLS. Markit acquired Logiscope and thus have strengthened their position in middleware technology.

The middleware tool has been designed to meet the functional requirements of all market participants, including executing brokers, clearing brokers, and Buy-Side Buy-Side The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim Read this Term firms. Although it provides connectivity only for NDFs initially, Tippell says it will support other FX products once CCPs are in a position to clear them.

The CME Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term along with major banks had introduced FX Market Space to overcome clearing and settlement issues in 2007, the project failed and was later scrapped.