Markit, a financial information services company, today announced that it has won five industry awards.
Markit has won two Awards for Excellence from Operations Management. The company was named “Operations Leader of the Year” for its Metrics report, which monitors progress on the commitments made by banks to regulators to improve the processing of Over-The-Counter (OTC) derivative trades. Markit’s acquisition of SwapsWire, the electronic trade confirmation network for the OTC derivative markets, was named “Deal of the Year”.
Credit Magazine has named the Markit - Creditex portfolio compression platform “Innovation of the Year”. Launched in July this year to reduce operational risk and improve capital efficiency in the single-name credit default swap (CDS) market, the platform has already compressed over $1 trillion in notional value of CDS transactions.
Markit has also been voted “Best Operational Support Provider” by Credit Magazine. In a poll of the largest credit investors in the world, the firm was commended for its credit derivative indices and Markit RED, the industry standard identifiers used throughout the CDS markets.
In addition, Markit was awarded “Best Data Service” by Financial News. The company was selected by the editorial team in conjunction with ten leading industry experts for its high quality data services.
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