The 2014 Trading Technology 40: Chip Carver


Chip Carver
Chief Operating Officer
Markit Group
Last year: 7

The 2008 purchase of SwapsWire was a typical but hardly insignificant stepping-stone for serially acquisitive financial information and services company Markit Group. SwapsWire’s over-the-counter trade confirmation capabilities were integrated into the MarkitSERV processing business, and the firm’s CEO, Chip Carver, stepped up to chief operating officer of Markit Group in 2009. When it bought SwapsWire, London-based Markit was five years past its spin-off from TD Securities and a third of the way toward its current head count of 3,500. Nearly 500 employees are technology developers reporting to Carver, who as part of his tech and infrastructure responsibilities instituted Project Execution Services, a framework to foster collaboration and agility among project managers and business analysts. Although widely perceived as a data company since its start as a derivatives pricing vendor, Markit has gone well beyond that in terms of value-added products, analytics and processing. Execution aside, “we are involved in every part of the trade cycle,” from pretrade through posttrade, notes Carver, 54. Recent innovations share the theme of cooperation: Customers of Markit and Bloomberg can distribute pricing and reference data across the companies’ competing enterprise data management platforms; Markit Collaboration Services allows different instant messaging programs to interoperate; and MarkitSERV is using Cinnober TRADExpress (see Veronica Augustsson, No. 38) for its ultralow-latency Credit Center system to ensure credit availability and certainty in OTC clearing.

See also Carver’s profiles in the 2013 Trading Technology 40 and the 2012 Trading Technology 30.

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