MarkitServ connects Swift to broaden FX clearing reach
Over-the-counter derivatives processing firm MarkitServ has signed an agreement with messaging provider Swift that will allow non-deliverable forward (NDF) trade messages sent over Swift to be automatically routed onwards to designated foreign exchange central counterparties (CCPs).
The move marks the next step in MarkitServ's efforts to grow its FX connectivity offering in support of the the move to mandatory central clearing of NDFs. According to Keith Tippell, co-head of FX at MarkitServ in
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