Markit and Traiana prepare for clearing hub showdown
Two firms now testing central credit-checking service
Two competing credit-checking utilities are preparing for launch in response to new clearing and execution rules for over-the-counter derivatives – even though both concede there may only be room for one and dealers have pressed for a single hub.
The fight will pit CreditLink – run by Icap-owned Traiana – against Credit Centre, a venture run by Markit's middleware provider, MarkitServ. Both claim to have completed development of their respective services and say they are currently in the process
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