Allocated Bullion Solutions (ABS) is to integrate its liquidity platform with Markit’s post trade processing services so as to automate trade management for precious metals.
Trade notices from ABS will be transmitted electronically by MarkitSERV, Markit’s post trade processing platform, to trade booking and trade management systems.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The partnership sees Singapore headquartered ABS, a commodity broker for precious metals, partnering with Markit, a financial services company headquartered in London.
Markit’s MarkitSERV is used by more than 90 electronic trading venues for straight through processing, regulatory reporting and routing trades to clearinghouses.
Seamus Donoghue, CEO of ABS, said: "The wholesale market is burdened with manual processes that have limited the industry’s ability to scale their distribution.
"Our integration with Markit is the next step in automating the post trade transaction process to provide straight through processing to significantly increase efficiency and reduce operational risks for bullion market participants."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
