Markit launches electronic confirmation services for FX
FX option trades matched to generate legally binding confirmations
Markit has launched an electronic trade-confirmation service for over-the-counter FX options as part of its MarkitServ trade-processing platform, with the aim of nudging the archaic and manual segments of the market towards automation.
The financial information services provider began developing the service a year ago with Barclays, Citi, HSBC, JP Morgan, Morgan Stanley, Nomura, Royal Bank of Scotland, UBS and several buy-side institutions to help market participants reduce their operational
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