IHS Markit, BidFX Team on Post-Trade09.11.2018
IHS Markit Adds BidFX to MarkitSERV FX Post Trade Network
LONDON (September 11, 2018) – IHS Markit (Nasdaq: INFO), a leading global provider of financial information services today announced that MarkitSERV now offers integration with BidFX, an industry leading execution management system (EMS) in the $5 trillion daily FX market, for straight through post-trade processing of FX trades, including FX spot, forwards, swaps and NDFs.
In working with BidFX and other FX trading venues on its network, MarkitSERV delivers a comprehensive, flexible STP solution for FX trading which includes a hosted service to disseminate trades from execution venues to clients’ internal trade capture and risk systems. The low latency service eliminates manual trade booking and provides real-time trade notification, position and P&L updates, confirmation of dealt trades, and enhanced operation and risk control. BidFX and MarkitSERV clients benefit from integration between the services and resource-efficient onboarding, including minimal demands on their own IT resources.
“BidFX is a technology-driven company and integrating with them gives our customers post trade connectivity to this important marketplace,” said Chris Leaver, managing director and head of business development for FX at MarkitSERV. “With MarkitSERV, firms can be trading with any of the more than 80 FX venues on our network while benefiting from the robust and standardized STP solution we provide.”
“Working with MarkitSERV expands our reach and brings a range of flexible post trade processing services to our clients. The current FX marketplace requires real time awareness of executions across various levels of trading desks including PMs, traders and compliance and risk teams,” said Scott Gold head of business development for BidFX. “Through this alliance, we are all able to deliver automated end-to-end STP solutions to all of our clients.”
Around 80 major FX ECNs, multi bank portals, aggregators and single dealer platforms connect to MarkitSERV to provide their customers with comprehensive post trade services.
BidFX is a TradingScreen company. Cloud-based trading and workflow technology from BidFX provide sophisticated execution management, a suite of negotiation tools and a hub to algorithmic trading suites from all major banks.
About IHS Markit (www.ihsmarkit.com)
IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions.
Nearly all cleared activity is in non-deliverable forwards (NDFs).
CLSNet standardizes and centralizes post-trade processes across FX.
The two platforms will link trading workflows in emerging markets bonds and currency swaps.
FX clearing offers operational efficiencies and credit intermediation.
This is the first phase of implementing NDF and Spot Matching, and streaming relationship venues in Asia.