Transaction Processing Systems
Financial Software supports multi-asset post-trade processing.
Press Release Summary:
Integrating functionalities from MarkitSERV, TradeFlow™ delivers automated over-the-counter clearing sequence which streamlines communications between financial firms and multiple clearing counterparties. Asset-class coverage has been extended to include rate swaps, basis swaps, credit default swaps, and credit index swaps. Eligible OTC trade data is routed to MarkitSERV Trade Manager using data feeds, and status updates from MarkitSERV Trade Manager are displayed in TradeFlow user interface.
Original Press Release:
Fiserv Announces New Version of TradeFlow with Integrated Global Support for Central Counterparty Clearing
- New version of post-trade processing solution leverages MarkitSERV functionalities, automating over-the-counter derivatives clearing through central counterparties
- Solution manages all inbound and outbound communications with multiple central counterparties in real-time
- Coverage for additional asset classes now included in TradeFlowÂ
Brookfield, Wis. — Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today the availability of the newest version of TradeFlow(TM), its multi-asset post-trade processing solution for institutional asset management firms. Integrating functionalities from MarkitSERV, the leading provider of electronic trade processing for over-the-counter (OTC) derivatives, TradeFlow now delivers an automated OTC clearing sequence which streamlines communications between financial firms and multiple clearing counterparties.
In addition, asset-class coverage has been extended in this new release of TradeFlow to include interest rate swaps, basis swaps, credit default swaps and credit index swaps.
"These core capabilities from MarkitSERV establish straight-through OTC clearing with major central counterparties in TradeFlow, and offer an enhanced value to institutional asset managers that operate in global OTC derivatives markets and require a comprehensive post-trade processing solution," said Stuart Tarmy, vice president of product strategy, Investment Services, Fiserv. "This new release of TradeFlow will help our clients and other firms manage an increasing assortment of international regulatory requirements and support expanded asset-class coverage."
In this new version of TradeFlow, MarkitSERV provides integrated connectivity to more than 100 executing brokers and 14 central counterparties worldwide via MarkitSERV Trade Manager, a buy-side service for managing and viewing trade matching, allocation delivery, clearing notifications and trade disputes. Eligible OTC trade data is routed to MarkitSERV Trade Manager using standard data feeds - including Financial Products Markup Language (FpML) and Comma-Separated Values (CSV). Status updates from MarkitSERV Trade Manager are displayed in the user interface of TradeFlow. If required, these updates can also be forwarded back to the user's order management and back-office systems.
"Fiserv customers will now have seamless access to the global MarkitSERV network and our robust tools for clearing, reporting and managing OTC derivatives trades. This integration fits in with our objective to help market participants automate trade workflow and reduce risk post trade," said Michele Carlo, managing director and head of MarkitSERV Trade Manager.
TradeFlow has been designed to be easily adapted to future market and regulatory changes in the OTC space. As newer clearing requirements for OTC derivatives take effect in the US and abroad, TradeFlow will be continuously enhanced to support additional OTC clearing through MarkitSERV.
Additional Resources:
- TradeFlow from Fiserv - http://www.fiserv.com/tradeflow
- MarkitSERV - http://www.markitserv.com
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider serving the financial services industry, driving innovation in payments, processing services, risk and compliance, customer and channel management, and business insights and optimization. For more information, visit www.fiserv.com.
