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Markit's WSO Suite integrates trade settlement and cross border lending for loan market

First Published 12th August 2016

London - IHS Markit, the provider of information, analytics and solutions, has announced increased levels of automation for the syndicated loan market through enhancements to its WSO software and services.

WSO's new version 12.2.1 integrates with Markit's trade settlement platforms to update positions when loan trades settle. The new version also handles complex requirements for cross border lending and enhances amortization reporting for specialty lenders.

New levels of integration between WSO and Markit's Loan Settlement platforms (ClearPar and Markit Clear) enable auto-settling of trades in WSO. WSO now processes contracts, fee information and other critical trade details from the settlement platform to update, reconcile and supplement trade data in WSO.

Features include:

  • Multi-borrower tracking: borrower designation is now available on the bank deal, facility and contract level to track multiple borrowers under a parent issuer. Separate wire instructions and notification recipients can be designated for each unique borrower to ensure all communication and payment instructions are sent to the appropriate parties.
  • Multicurrency term loans: users can now track complex facilities that are funded in more than one currency. FX fluctuations can be tracked with activity based FX adjustment records in order to keep base commitment unchanged.
  • Multiple holiday calendars: users can specify calendars for different countries, regions and/or currencies at both the asset and contract level to ensure holidays are accounted for properly.
  • Multicurrency wire instructions: separate wire and payment instructions can be assigned at the portfolio, issuer and bank deal level per currency, allowing WSO to integrate with internal or external wire systems and borrower platforms for cash transactions and activity notification.