Markit and Calypso join forces to speed up trade confirmations

London-based data provider Markit and San Francisco capital markets trading software company Calypso have announced that the US-based company will integrate Markit Trade Processing into its software platform.

The partnership will enable users to pass data from Calypso’s trade-capture system to Markit’s trade-processing platform, as a result automating a variety of post-trade services including trade day affirmation, Depository Trust & Clearing Corporation trade confirmation, non-straight-through processing (STP) confirmation workflow and portfolio reconciliation. Markit Trade Processing also facilitates novation, termination and dispute resolution via Markit Connex, a secure instant messaging service.Leo Schlinkert, executive vice-president and head of trade processing and distribution at Markit, said: “By linking our platform to industry utilities and leading vendors such as Calypso, we are able to pave the way for a more efficient market-place. This will allow our clients to achieve true STP, making costly errors and backlogs a thing of the past.”