Pirum and Markit do data deal
15 September 2014 London
Image: Shutterstock
Post-trade securities finance specialist Pirum has teamed up with Markit to enhance the timeliness and transparency of information contained in the data provider’s securities finance data set.
Mutual customers can now use Pirum’s data hub to deliver intraday and end-of-day trade data to Markit’s securities finance global data set, with the company’s new API delivery mechanism enabling customers to immediately benefit from enhanced coverage and timeliness.
Ben Challice, managing director and global head of equity finance at Nomura, welcomed the partnership, commenting: “This initiative enables Nomura to participate in Markit’s enhanced securities finance data service while utilising existing connectivity with both Markit and Pirum. Intraday market data will be an important tool for analysis and trade execution activities.”
David Carruthers, managing director and co-head of securities finance at Markit, said that the benefits of the integration extend beyond traditional securities lending and borrowing data to encompass pending, repo and collateral.
“Markit’s data coverage spans a spectrum of trade types and reinforces our commitment to providing customers with a single platform that meets their data needs across the entire securities financing workflow.”
Rupert Perry, CEO at Pirum, added: “Our customers can easily manage how much of their accurately matched Pirum trade data they want to be made available to Markit. This ensures they retain control of quality, without any additional IT development effort or cost on their part.”
“This new data interface forms part of our strategy of enabling our customers to easily have their securities finance data transmitted to wherever our customers require their data to be sent.”
Markit’s partnership with Pirum builds on the securities finance coverage already collated through direct customer contributions, which covers more than $15 trillion of securities in the lending programmes of some 20,000 institutional funds.
Pirum signed a similar deal with SunGard’s Astec Analytics in May, with the companies promising clean, high quality and accurately matched trade data without any additional development effort or cost.
Mutual customers can now use Pirum’s data hub to deliver intraday and end-of-day trade data to Markit’s securities finance global data set, with the company’s new API delivery mechanism enabling customers to immediately benefit from enhanced coverage and timeliness.
Ben Challice, managing director and global head of equity finance at Nomura, welcomed the partnership, commenting: “This initiative enables Nomura to participate in Markit’s enhanced securities finance data service while utilising existing connectivity with both Markit and Pirum. Intraday market data will be an important tool for analysis and trade execution activities.”
David Carruthers, managing director and co-head of securities finance at Markit, said that the benefits of the integration extend beyond traditional securities lending and borrowing data to encompass pending, repo and collateral.
“Markit’s data coverage spans a spectrum of trade types and reinforces our commitment to providing customers with a single platform that meets their data needs across the entire securities financing workflow.”
Rupert Perry, CEO at Pirum, added: “Our customers can easily manage how much of their accurately matched Pirum trade data they want to be made available to Markit. This ensures they retain control of quality, without any additional IT development effort or cost on their part.”
“This new data interface forms part of our strategy of enabling our customers to easily have their securities finance data transmitted to wherever our customers require their data to be sent.”
Markit’s partnership with Pirum builds on the securities finance coverage already collated through direct customer contributions, which covers more than $15 trillion of securities in the lending programmes of some 20,000 institutional funds.
Pirum signed a similar deal with SunGard’s Astec Analytics in May, with the companies promising clean, high quality and accurately matched trade data without any additional development effort or cost.
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