Markit has announced the launch of a new electronic affirmation service within Markit Trade Processing (MTP). The company claims that its new service, which builds on an existing affirmation model, can electronically match trades between counterparties prior to confirmation. MTP is designed to reduce client risk by automating the post-trade lifecycle for all OTC derivative instruments. Last month, the service processed in excess of 60,000 trades. MTP provides trade date affirmation and trade confirmation through industry utilities such as the Depository Trust & Clearing Corporation (DTCC). The platform also supports non-straight-through processing (STP) workflow, enabling clients to process paper confirmations in an automated manner. The first dealers to sign up to the new platform are Bear Stearns, Goldman Sachs and Lehman Brothers.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.