MarkitSERV and Misys have partnered to offer an end-to-end solution for the latter’s Confirmation Matching Service (CMS) customers to deliver FX derivative trades to central clearing counterparties (CCPs). This offering will integrate the MarkitSERV FX clearing gateway - the single point of access to all FX CCPs used by executing brokers, clearing brokers, trading venues and buy side firms - with the Misys CMS, the post-trade treasury solution used by over 1,000 banks, brokers, fund managers and corporate treasurers.

The partnership will allow Misys CMS customers to use MarkitSERV’s SWIFT interface (and industry-standard SWIFT MT300 messages), its connectivity for FX clearing validation and clearing broker acceptance (as appropriate) and its network to transmit trade notifications to designated FX CCPs. As a result, CMS clients will be equipped to centrally clear OTC FX transactions, as required by Dodd-Frank and EMIR.

Gilmore Bray, director, Misys global managed services, says: “Our partnership with the leading clearing gateway, MarkitSERV, is a significant enhancement to the Misys CMS as it enables our clients to view through a single window the end-to-end status of FX trades requiring central clearing. Misys CMS will utilise the SWIFT network to deliver trades to MarkitSERV on behalf of our clients, eliminating any infrastructure investment or ongoing development cost to comply with the regulatory requirements. Misys CMS is dedicated to stay one step ahead of market changes so that our customers are well positioned in advance of regulatory changes.”

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