Markit and S&P create identification system for the loan market

By Sara Rosenberg

New York, Dec. 3 - Markit and Standard & Poor's joined forces to create a universal identification system for the loan market that will improve transparency and liquidity, and will facilitate clearing and settlement of trades, according to a news release.

The identifiers will encompass a new participant identification system for loan market entities, which will be available later this month, and loan CUSIPs, which will be expanded in early 2009 to cover a greater number of facilities including links to contract level identifiers.

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