A confirmation platform supporting affirmation and matching of over-the-counter derivative transactions across all major asset classes. MarkitSERV was launched in September 2009 as a joint venture between MarkitWire and DTCC DerivSERV. MarkitWire was the affirmation platform for rates and equity derivatives, where as DTCC DerivSERV was the matching platform for credit and equity derivatives. However, in 2013 Markit acquired DTCC ownership of MarkitSERV, which is now a product of the company.
MarkitSERV offers coverage for Credit, Equity, FX and Interest Rates products through their confirmation platforms MarkitWire and DSMatch and Trade Manager for the buyside firms, from trade matching to affirmation and the execution of legal confirmations. In addition, they connect to all the major clearing houses and to trade repositories for voluntary and mandatory clearing and reporting (Dodd Frank and EMIR).
Their latest product, Credit Centre, is a pre-trade credit checking platform connecting trading venues, CCPs (central counterparties) and FMCs (future commission merchants) that enables traders to run real-time credit checks on incoming orders.