Markit Confirms German Federal Republic As New Trade Manager Customer

Markit, a provider of financial information services, has announced that the Federal Republic of Germany (the Bund), through the Federal Republic of Germany Finance Agency, which acts as the central service provider for the country’s borrowing and debt management, has become one of the latest customers of Markit Trade Manager.

The Bund will use Trade Manager to automate post trade processing of OTC derivatives positions.

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The Bund will use Trade Manager to automate post trade processing of OTC derivatives positions, including managing the workflow it requires as a member of the EurexOTC Clear Clearing House Clearing House A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e A clearing house is defined as an intermediary between two parties, a buyer and seller, which helps facilitate the overall process from trade inception to settlement. Clearing houses streamline the exchange of payments, securities, or derivatives transactions.The clearing house is situated between two clearing firms who also helps reduce the risk of either member firm failing to honor their respective trade settlement obligations.Buyers and sellers enter into legally binding agreements for the e Read this Term.

Commenting on the announcement, Carsten Lehr, co-CEO of the Finance Agency, said: “We are very pleased with the successful implementation of Trade Manager. Trade Manager automates our post trade process for OTC derivatives which will be cleared via EurexOTC Clear and therefore increases our operating efficiency.”

Markit’s Trade Manager provides institutions worldwide with a dashboard consolidating trading activity in multiple derivatives asset classes and a fully electronic system to manage trade confirmations, allocations and other lifecycle events as well as regulatory requirements including Clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term and trade reporting.

Claire Lobo, managing director and head of business development for MarkitSERV at Markit, said: “We are pleased to offer a solution to the Federal Republic of Germany and other institutions which are proactive in reducing operational risk through automating the management of OTC derivatives, including the workflow required for clearing.”

In its capacity as a global provider of financial information services, Markit provides a range of products that enhance transparency, reduce risk and improve operational efficiency.

Adding the Federal Republic of Germany rubber-stamps the company’s capabilities and expanding range of customers which include banks, hedge funds, asset managers, central banks, regulators, auditors, fund administrators and insurance companies.