MarkitSERV, a joint venture of Markit and the Depository Trust & Clearing Corporation (DTCC), has partnered with AcadiaSoft. The companies will develop a multi-functional collateral processing platform for the over-the-counter (OTC) derivative market in the first quarter of 2011. The MarkitSERV portal will offer clients integrated access to the AcadiaSoft Messaging Platform, an online service that facilitates and manages communications required for collateral calls. The service will allow buy- and sell-side counterparties to manage information electronically on exposures, commitments and adjustments to collateral and create an audit trail of all communication about margining.
Click here for the release from Business Wire.