Swapswire off the Markit as acquisition is signed
When the deal closes later this year, Markit hopes to create a cross-asset trade processing platform targeted at buy-side firms, dealers and inter-dealer brokers. The combined business will be co-headed by Jeff Gooch, head of trade processing and valuations at Markit, and Chip Carver, chief executive of SwapsWire.
"From a buy-side perspective there are many vendors in the post-trade space and a number of different practices," explains Jeff Gooch. "It is costly and not always effective to automate
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