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March 2, 2009

Markit launches multi-bank client valuations platform

Provides a secure, standardized view of over-the-counter derivative positions on a single electronic platform

By CBR Staff Writer

Markit, a financial information services company, has launched first multi-bank, cross-asset client valuations platform, Markit Valuations Manager.

The company said that Markit Valuations Manager provides a secure, standardized view of over-the-counter (OTC) derivative positions and derivative and cash instrument valuations across counterparties on a single electronic platform. Subscribers to Markit’s Portfolio Valuations service will be able to view the bank counterparty valuations alongside Markit’s independent valuations.

The company also said that the new platform incorporates a dispute mechanism and workflow tools with audit trail to enhance the price challenge process. Markit Valuations Manager is integrated with Markit’s Trade Processing PortRec service to enable full life cycle support for OTC derivative positions including counterparty position data delivery, normalization , reconciliation and valuation.

David Lefferts, managing director of Markit Valuations Manager at Markit, said: We are pleased to be launching Markit Valuations Manager after 12 months of R&D, working closely with buy-side and sell-side players. We look forward to bringing considerable efficiencies to our clients’ valuation processes.

Markit is a financial information services company with operations in Europe, North America and Asia-Pacific. The company provides data, valuations and trade processing services in the global financial markets.

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