MarkitSERV to Update OTC Derivatives Platform with Collateral Messaging

MarkitSERV announced it's working with the Depositary Trust & Clearing Corp. and AcadiaSoft to develop a platform that can help over-the-counter derivatives traders set and maintain collateral between deals with their counterparties.

The companies said that towards the end of the first quarter, MarkitSERV will enable its clients to access AcadiaSoft's Messaging Platform which manages collateral calls. The online system is designed to allow buy-side and sell-side counterparties to access information on exposures, commitments and adjustments to collateral, AcadiaSoft said.

It also creates an audit trail of all communication about margining, the firm added. Such messaging about collateral is also used to satisfy reporting requirements about derivatives deals under the Dodd-Frank Act.

"Clients are searching for ways to streamline the multiple post-trade requirements relating to derivatives transactions," MarkitServ Chief Executive Jeff Gooch said in a statement. "By linking AcadiaSoft's technology and DTCC's capabilities to MarkitSERV, we provide our clients with a single comprehensive platform to manage collateral alongside trade processing workflow, portfolio reconciliations and valuations." As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced Trading in 2010, Grant's news analysis has touched on everything from the latest ... View Full Bio