Pirum partners with Markit

Pirum partners with Markit

Markit has partnered with Pirum, a post-trade securities finance technology provider. The partnership aims to enhance the timeliness and transparency of information contained in Markit’s securities finance data set.

Mutual customers will be able to use Pirum’s data hub to deliver intraday and end of day trade data to Markit’s securities finance global data set.

“This initiative enables Nomura to participate in Markit’s enhanced securities finance data service while utilising existing connectivity with both Markit and Pirum. Intraday market data will be an important tool for analysis and trade execution activities,” said Ben Challice, managing director and global head of equity finance.

“This agreement with Pirum will help our joint customers easily access intraday trade data through Markit’s securities finance analytical tools. The benefits of this integration extend beyond traditional securities lending and borrowing data to encompass pending, repo and collateral data,” David Carruthers, managing director and cohead of securities finance at Markit.

Markit’s partnership with Pirum builds on the securities finance coverage already collated by Markit through direct customer contributions, which covers over $15trn of securities in the lending programmes of over 20,000 institutional funds and tracks loan balances of approximately $2trn.

“Our customers can easily manage how much of their accurately matched Pirum trade data they want to be made available to Markit. This ensures they retain control of quality, without any additional IT development effort or cost on their part,” said Rupert Perry, CEO of Pirum.

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