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MarkitSERV collaborates with Misys to boost FX client clearing capabilities

MarkitSERV and Misys have joined hands to offer highly efficient, continuous technology for the latter’s Confirmation Matching Service (CMS) customers to deliver foreign exchange (FX) derivative trades to central clearing counterparties (CCP).

The collaboration will enable Misys CMS customers to leverage from simple, regulation-ready, FX clearing workflow technology.

Integrating MarkitSERV FX clearing gateway with the Misys CMS, the new offering will provide customers seamless access to all FX CCPs and other FX market participants.

Further, the collaboration will enable Misys CMS customers to use MarkitSERV’s SWIFT interface, connectivity for FX clearing validation and clearing broker acceptance and its network to transmit trade notifications to designated FX CCPs.

Misys global managed services director Gilmore Bray said, "Misys CMS will utilise the SWIFT network to deliver trades to MarkitSERV on behalf of our clients, eliminating any infrastructure investment or ongoing development cost to comply with the regulatory requirements."

Jointly owned by The Depository Trust & Clearing Corporation (DTCC) and Markit, MarkitSERV delivers a single gateway for OTC derivatives trade processing.

Misys offers banking, treasury, trading and risk technology to financial organization, serving 1,800 customers in 120 countries.