What is MarkitWire?

MarkitWire is a platform used worldwide by banks, dealers, inter-dealer brokers, prime brokers and buy-side clients, to exchange trade data and confirm OTC transactions to achieve straight through processing.

South African banks trading in the over-the-counter (OTC) derivatives market have adopted MarkitWire as their electronic trade reporting and matching platform. MarkitWire facilitates easy communication using a common protocol between traders locally and abroad. It simplifies, automates and standardises the OTC market, allowing the trading community to trade, match, handle query resolution, and record reset information as efficiently as possible.

MarkitWire is a product of the UK-based company Markit, which was established in 2001. For more information, please visit their website www.markit.com.

How is RMB using MarkitWire?

RMB has recently integrated with MarkitWire for the trading of ZAR and Foreign Currency FRAs and Vanilla Swaps (IRS and Basis Swaps). Additional products will be added in due course. If you choose not to use MarkitWire, you will not be affected.

How can you benefit?

If you are a frequent trader of FRAs and/or Vanilla Swaps (IRS and Basis Swaps), you can use the appropriate MarkitWire platform suitable to your business and benefit from a single point of entry; straight through processing; and electronic matching of trades for confirmations.

How can you find out more?

For more information or to connect with Rand Merchant Bank, a Division of FirstRand Bank Ltd. on MarkitWire, please contact: