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Article: Markit, DTCC Set Agreement.(Technology)(Brief article)
- Article from:
- American Banker
- Article date:
- November 2, 2009
- Author:
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Steve Bills
The financial information company Markit Group Ltd. announced an agreement Friday with Depository Trust and Clearing Corp. to provide electronic processing of syndicated loans.
"The syndicated loan market is one of the largest credit asset classes and we have been working with the industry on a global settlement solution that will connect buy- and sell-side participants electronically," said Armins Rusis, an executive vice president at Markit, in a press release.
DTCC, of New York, a major clearing house for the securities industry, will integrate its Loan/Serv Messaging Service into Markit's loan-settlement platform, a ...