MarkitSERV is to acquire Logicscope, a provider of post-trade workflow solutions and STP for FX transactions.
Over the last year, the electronic trade processing platform for OTC derivative transactions has been expanding its service to support trade processing and clearing for FX. Logicscope’s TradeSTP trade processing technology and connectivity to more than 60 liquidity providers (banks, brokers, exchanges and electronic crossing networks) and 400 financial institutions will enable it to enhance its FX service offering. In turn, Logicscope’s clients will benefit from MarkitSERV’s global reach and scale and additional workflow functionality.
Jeff Gooch, CEO at MarkitSERV, says: “Logicscope will provide us with significant capabilities. The company’s proven technology is remarkably agile and its low-latency infrastructure and flexible solutions are increasingly in demand. We have been working with the FX industry since October 2010 to provide a complete trade processing solution for market participants. Their complementary technology and comprehensive product suite will enable us to offer the same standards of trade processing, connectivity and compliance to FX market participants that we currently offer for credit, rates and equity derivatives.”
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