Buy side backs trueEX in tussle with Markit
Asset managers worry legal dispute could force trueEX out of business
Derivatives users on the buy side are alarmed that trueEX’s legal dispute with Markit could spell the end of the start-up swap execution facility (Sef).
The start-up derivatives trading venue sued Markit on May 8 after the vendor allegedly threatened to terminate access to its post-trade processing platform for interest rate swaps, known as MarkitSERV – a move trueEX claims would force it to shut down its Sef and post-trade services business. trueEX’s main liquidity providers use MarkitSERV to
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