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IHS Markit adds BidFX to MarkitSERV FX post trade network

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IHS Markit’s MarkitSERV now offers integration with BidFX, an industry leading execution management system (EMS) in the USD5 trillion daily FX market, for straight through post-trade processing of FX trades, including FX spot, forwards, swaps and NDFs.

In working with BidFX and other FX trading venues on its network, MarkitSERV delivers a comprehensive, flexible STP solution for FX trading which includes a hosted service to disseminate trades from execution venues to clients’ internal trade capture and risk systems. The low latency service eliminates manual trade booking and provides real-time trade notification, position and P&L updates, confirmation of dealt trades, and enhanced operation and risk control. BidFX and MarkitSERV clients benefit from integration between the services and resource-efficient onboarding, including minimal demands on their own IT resources.
 
“BidFX is a technology-driven company and integrating with them gives our customers post trade connectivity to this important marketplace,” says Chris Leaver, managing director and head of business development for FX at MarkitSERV. “With MarkitSERV, firms can be trading with any of the more than 80 FX venues on our network while benefiting from the robust and standardised STP solution we provide.” 
 
“Working with MarkitSERV expands our reach and brings a range of flexible post trade processing services to our clients. The current FX marketplace requires real time awareness of executions across various levels of trading desks including PMs, traders and compliance and risk teams,” says Scott Gold, head of business development for BidFX. “Through this alliance, we are all able to deliver automated end-to-end STP solutions to all of our clients.”
 
Around 80 major FX ECNs, multi bank portals, aggregators and single dealer platforms connect to MarkitSERV to provide their customers with comprehensive post trade services.

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