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21 September 2011 MARKITSERV ACQUIRES LOGICSCOPE

MARKITSERV ACQUIRES LOGICSCOPE TO EXPAND POST-TRADE SERVICES FOR FX TRANSACTIONS

 

September 21 2011 - London and New York, NY – MarkitSERV, a leading electronic trade processing platform for OTC derivative transactions, today announced that it has agreed to acquire Logicscope Limited, a leading provider of post-trade workflow solutions and straight-through-processing (STP) for foreign exchange (FX) transactions.  

 

Over the last year, MarkitSERV has been working with the industry to expand its service to support trade processing and clearing for FX.  Logicscope’s award-winning TradeSTP trade processing technology and connectivity to more than 60 liquidity providers (banks, brokers, exchanges and electronic crossing networks) and 400 financial institutions (banks, hedge funds, asset managers and corporates) will enable MarkitSERV to enhance its FX service offering significantly.  In turn, Logicscope’s clients will benefit from MarkitSERV’s global reach and scale and additional workflow functionality, making TradeSTP an even more compelling solution for industry participants.
 

 

Jeff Gooch, CEO of MarkitSERV, said: “Logicscope will provide MarkitSERV 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.  Logicscope’s 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.” 

John Barber, CEO of Logicscope, said: “We are very excited to become part of the MarkitSERV organisation and to deliver our market-leading services under the MarkitSERV banner.  This is very much a case of the whole being greater than the sum of its parts: MarkitSERV will benefit from our established presence and reputation in FX and in turn, our post-trade processing capabilities will be enhanced significantly with the addition of critical functionality like trade confirmation and clearing connectivity.  As part of MarkitSERV, we look forward to developing these capabilities to handle even more complex trade workflows and to leverage the opportunity presented by growth in FX volumes and e-trading.”

- Ends -


For further information, please contact:

Tina Kane
Logicscope Limited
Telephone: +44 (0)20 7786 5150
Email: tina.kane@logicscope.com

Alex Paidas
Director, Corporate Communications
Markit
Telephone: +1 212 205 7101
Email: alex.paidas@markit.com


Notes to Editors:
About MarkitSERV
MarkitSERV, jointly owned by The Depository Trust & Clearing Corporation (DTCC) and Markit, provides a single gateway for OTC derivatives trade processing.  By integrating electronic allocation, trade confirmation and portfolio reconciliation, MarkitSERV provides an end-to-end solution for post-trade transaction management of credit, interest rate, equity and commodity derivatives.  MarkitSERV also connects dealers and buy-side institutions to trade repositories and all six major central clearing counterparties worldwide.  For more information, see www.markitserv.com

About Logicscope
Founded in 1993, Logicscope is a market leader in deal notification and data integration technologies and services.  TradeSTP, Logicscope’s award-winning service, offers standard and customisable post-trade STP and workflow solutions that support the FX industry’s growing focus on regulation, CCP clearing, prime brokerage, risk mitigation and cross-asset reporting.  For more information, see www.logicscope.com.
 

Logicscope Press Release

 

MarkitSERV-Logicscope Messages and QA
 
8 August 2011 - Significant growth in TradeSTP community in July

8 August 2011  - Logicscope Limited, a leading provider of post-trade solutions to OTC liquidity providers and their clients, implemented a record number of new TradeSTP connections in July 2011.  

A number of TradeSTP liquidity venues including Barclays, Deutsche and SBI Liquidity Markets extended TradeSTP connectivity in July to new buy side counterparties worldwide.  New customer implementations included Swedbank, La Caixa Barcelona, CQS, Banca del Sempione, Komercni Banka, PKO Bank Polski and The Cambridge Strategy. 

Logicscope's post trade STP footprint is not only extending to new counterparties globally; existing customers are increasingly using TradeSTP Workflow, its flexible toolkit for managing more complex post-trade processes - to benefit from more streamlined post-trade services and enhanced operational efficiency.

To find out more about how TradeSTP can enhance your - and your clients' - post-trade efficiency, contact us now.
 
8 August 2011 - Senior hire leads pre-sale technical support

 

 

 

Logicscope Hires Senior Product Manager from Newedge

FX and OTC product specialist enhances Logicscope’s sales effort

 

London, 8 August 2011 – Logicscope Limited, a leading provider of post-trade solutions to OTC liquidity providers and their clients, is pleased to announce the appointment of Marc d’Arguesse as Product Manager. Marc has specific responsibility for the future direction and functionality of the award winning TradeSTP service and will be providing high level pre-sale technical support to Logicscope’s sales effort.


Marc joins Logicscope from Newedge where he was an associate director with specific responsibility for FX and OTC Operations in Europe and the Middle East. A highly experienced process development and project manager, Marc’s extensive expertise encompasses onboarding and client relationship management, liaison between technical, operations and business groups, compliance and risk management. He will report to Nick Dyne, Head of Business Development.


Prior to his most recent role, Marc was a product analyst for Fimat’s Prime Brokerage Group, where he was instrumental in the successful development of a trading, clearing, settlement and reporting platform for OTC fixed income assets and also worked on a number of Sharia-compliant trading products.


Commenting on the appointment, John Barber, Logicscope’s CEO, said: “We are delighted to welcome Marc to Logicscope and look forward to benefiting from his knowledge as we continue to develop our leading edge FX and OTC post-trade solutions. His comprehensive knowledge of the trading lifecycle - from front end trading efficiency through to process and risk management – will bring significant enhancements to our product set and customer experience”.


TradeSTP, Logicscope’s award-winning service, offers standard and customizable post-trade STP and workflow solutions that support industry’s growing focus on regulation, CCP clearing, prime brokerage, risk mitigation and cross-asset reporting. Today, TradeSTP is deployed by the world’s leading liquidity providers (banks, brokers, ECNs and exchanges) to provide sophisticated and efficient post-trade STP to their clients.
 

 

 
 
14 June 2011 - Arab Banking Corporation expands TradeSTP connectivity

For more information about joining the TradeSTP Community, contact Logicscope now by mail or telephone +44 (0)20 7786 5150.
 
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