London and New York, NY – Markit (Nasdaq: MRKT), a leading global provider of financial information services, today announced that the Federal Republic of Germany (the Bund), through the Federal Republic of Germany - Finance Agency GmbH (Finance Agency) acting as the central service provider for the country’s borrowing and debt management, is one of the newest customers of Markit Trade Manager.
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 clearinghouse.
Trade Manager provides more than 300 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 and trade reporting.
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.”
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.”
For further information, please contact:
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Alex Paidas
Director, Corporate Communications Telephone: +1 212 205 7101 Email: alex.paidas@markit.com
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About Markit
Markit is a leading global provider of financial information services. We provide products that enhance transparency, reduce risk and improve operational efficiency. Our customers include banks, hedge funds, asset managers, central banks, regulators, auditors, fund administrators and insurance companies. Founded in 2003, we employ over 4,200 people in 13 countries. Markit shares are listed on Nasdaq under the symbol MRKT. For more information, please see www.markit.com .