Markit, an information services company, has agreed to acquire ACBS ClearPar from Fidelity National Information Services and said it will add the Depository Trust & Clearing Corp.(DTCC) Loan/SERV Messaging Service to its electronic loan settlement platform.

ClearPar is an automated syndicated loan operations platform used for the settlement of par and distressed loan trades in the U.S. and Europe. Markit will integrate ClearPar with parts of its WSO portfolio management software to create an electronic loan settlement platform for buy-side and sell-side market participants. This, Markit said, will help reduce counterparty and operational risk in the leveraged loan market by improving loan settlement times.

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