09.23.2016
By John D'Antona Editor, Traders Magazine

IHS Markit Debuts Improved Position Reconciliation Portal for Syndicated Loan Market

09.23.2016 By John D'Antona Editor, Traders Magazine

IHS Markit – LONDON – IHS Markit (Nasdaq: INFO), a world leader in critical information, analytics and solutions, today announced that it has launched a new portal to reconcile syndicated loan positions.

In January, Markit acquired Loan/SERV reconciliation assets from The Depository Trust & Clearing Corporation (DTCC) and the new Loan Reconciliation portal is part of IHS Markit’s concerted effort to reduce the number of systems required to manage syndicated loan assets.

The new portal incorporates historical data from Loan/SERV and its formats for upload and reporting, making migrating to the new service seamless.  The portal offers an improved interface, multi-party search functionality, standardized use of identifiers, additional transparency for lenders regarding agent activity and streamlined workflow for agent banks which no longer need to approve data matches entered by lenders.

Scott Kostyra, head of Loan Settlement at IHS Markit, said: “Bringing reconciliation to our family of services for the loan market improves efficiency and transparency.  Our goal is to link trade settlement, reconciliation and portfolio management in order to remove some of the operational challenges sometimes associated with this complicated, yet important and growing asset class.  We look forward to expanding the reconciliation tools we offer, including the support required to make reconciliation a real-time automated process, rather than a daily or weekly exercise.”

Related articles

  1. Trading Europe From ‘Across the Pond’

    Status grants clearing members clarity on the regulatory treatment of their exposures to OCC.

  2. The clearinghouses will be using a VaR methodology.

  3. Auerbach Grayson Launches U.S. Equities Trading Business
    Daily Email Feature

    FTX US Boosts Equities Business

    The US regulated cryptocurrency exchange has acquired Embed Clearing.

  4. BIS Warns on Asset Management

    'Crypto carnage’ has shown how meaningful protections for investors, markets, and the public are needed.

  5. Banks' Risk Management Seen as Lagging

    The enhanced margining model strengthens resilience and boosts capital efficiency.