Markit, provider of independent data, portfolio valuations and OTC derivatives trade processing, has opened an office in Sydney, which becomes Markit’s third Asia-Pacific office, joining Tokyo and Singapore.

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Standard Chartered has gone live with Sophis RISQUE to support its new equity derivatives activity, to be based in Singapore and Hong Kong and covering all major Asian markets. The bank has gone live with Sophis’s full front to back offering and is managing its risks in the platform, as well as using the VaR and reporting modules.

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Singapore Exchange (SGX) and the National University of Singapore (NUS) Risk Management Institute (RMI) have signed a memorandum of understanding (MoU) to collaborate on financial research. The aim is to create financial products to facilitate risk management and generate additional trading opportunities for investors. Initial research projects include property derivatives, Asian credit derivatives and carbon trading.

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ICICI Bank, India’s second largest bank with assets of more than US$79 billion, has subscribed to Markit’s credit default swap (CDS) pricing service. ICICI will receive Markit’s daily CDS pricing to assist in the bank’s management of credit risk, particularly in the area of structured credit. Markit provides mark to market CDS pricing on around 3300 CDS entity-tiers of debt drawn from daily price contributions from 85 dealing firms.

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Australian securities services provider NAB Custodian Services (NCS) has appointed Markit Group to provide complex OTC derivatives valuations. Markit will provide NCS with an independent, post-trade calculation of the gross asset value of a portfolio of complex OTC derivatives.

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