Markit Wire is widely used today by Third Party Administrators (TPA's) free of charge in support of their clients. TPA's can receive real-time notification of confirmed trades, produce ah-hoc reports, or use Markit Wire to confirm trades on behalf of clients.
- Real time trade notification
- Screen based, FpMLTM and spreadsheet export
- Full programming API available
- Read-only or read-write access
For the first time, TPA's can get accurate trade data on trade date, reducing the cost and risk of expensive reconciliations and improve the efficiency of downstream processes. T+1 NAV is a reality.
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Trade Notification
TPA's can elect to receive an automated e-mail notification each time a trade is confirmed for a client on Markit Wire. Emails contain a link which takes you straight to the trade details on Markit Wire's web screen (via secure logon if not already logged on). Dynamic querying allows you to search for trades at any time which meet the specified criteria, for example "trades confirmed today".
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Reporting and Extract
All trades are held in Markit Wire's secure trade archive. Each trade is assigned a unique ID, which is common for all parties. A new version of the trade is created if the trade record is modified, for example through amendment or termination. Users can create lists of trades meeting specified criteria, and criteria can be saved for later use. A list of trades can be reviewed on-screen, or exported in summary or detail in spreadsheet-compatible format. Individual trade data can be saved in FpMLTM format. A programming API is available to allow programmatic querying and extract in FpMLTM format.
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How To Access Markit Wire
TPA's must be granted access by the entity using Markit Wire to confirm transactions (typically a fund manager). The fund manager should first of all complete Markit Wire's end user terms. A user ID will be issued for each user who needs to access trade data on behalf of a fund manager client. Please contact us if you have any queries.
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