IHS Markit's Loan Settlement Manager and ClearPar platforms provide a complete electronic trade processing ecosystem used to settle syndicated loan trades. The solution is built into our ClearPar loan settlement platform and benefits from the power of our . Research reorganizations to define the settlement process; . Knowledge of loan settlement process through Clearpar, LMA/LSTA docs ; Understanding of loan set up, interest calculations, amendments, restructuring, and loan agency ; Experience with CLO's including warehouse to securitization phases ; Management of fund level and asset-based financings, including loan TRS ; Knowledge of loan settlement process through Clearpar, LMA/LSTA docs; Understanding of loan set up, interest calculations, amendments, restructuring, and loan agency; Experience with CLO’s including warehouse to securitization phases; Management of fund level and asset-based financings, including loan TRS §Experience with ClearPar settlement platform and loan closing process (primary and secondary) . Investors (2) Analytics. The platform supports primary assignments and. Profile. Markit, the financial data company, is working on Markit Clear, an update to its ClearPar system for settling loans, which will include straight-through-processing that should help reduce . IHS Markit's ClearPar system, which IHS Markit acquired in 2009, holds a quasi-monopoly in the syndicated loans market. The hardest part of the settlement process appears to be what's called the upstream review of the chain of ownership of the traded loan. Your opportunity. ClearPar, the automated loan-processing business that settles most trades in the $500 billion U.S. market, reduced a newly imposed fee by 37 percent after some customers complained and stopped . Valley Cottage, New York 10989. With online inventory management addressing the risks of today's manual process, we can turn our attention to the final piece of the puzzle, upstream review. Settlement Process Flowchart. Nolan. Northern Trust today announced it has automated processing of the full trade settlement lifecycle for syndicated bank loans through integration with IHS Markit' s ClearPar Custodian Services . Northern Trust (NTRS-0.1%) says it has automated processing of the full trade settlement lifecycle for syndicated bank loans through integration with IHS Market's ClearPar Custodian Services . These steps normally are effected using ClearPar or a comparable, electronic trading and settlement platform for Loan Interests. experience maintaining bank loans and revolving credit facilities within LoanIQ. Requisition # 10049754-WD. • Initiate and coordinate trade settlement process with ClearPar and Non-Clearpar (Paper trades) both LMA and LSTA docs • Engage with trade Counterparties to receive and review par and distressed trade legal documentation requiring knowledge of transfer documentation including funding memos, netting letters, participation agreements . Loan Settlement is the hub at the center of the syndicated loan market. Examples of a delivery without payment are the delivery of securities collateral against a . Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. We welcome these upgrades to WSO, as they enable us to continue to scale our platform." We are committed to ensuring that our online application process provides an equal employment opportunity to all applicants, including individuals with . Strong knowledge of LMA and LSTA par and distressed bank debt closing process; Strong knowledge around bond settlements and processing. $60,000 a year. It's about verifying pre-existing information that trade settlement systems like ClearPar already hold, information already entered and confirmed through the system by trade . New levels of integration between WSO and Markit's Loan Settlement platforms (ClearPar and Markit Clear) enable auto-settling of trades in WSO, creating unprecedented efficiency and accuracy for . IHS Markit says that its ClearPar platform includes intuitive tools that automatically track available amounts in real time and what is owned by whom. Our technology streamlines and centralizes the complicated process of loan trade settlement. The average Settlement Processor salary in New York, NY is $78,863 as of March 29, 2022, but the salary range typically falls between $66,560 and $93,953. This increases the risk and costs for firms that invest in distressed debt. Salary ranges can vary widely depending on the city and many other important factors, including education, certifications, additional skills, the number of years you have spent in your profession. LoanTrak . The combination of Markit's loan processing and data platform with ClearPar's settlement system will allow us to introduce faster, more accurate settlement of loan trades. Since the start of 2015, ClearPar has automatically transmitted closing documents in electronic format to custodians when trades settle, eliminating that step in the trade closing process for lenders. settlement hub and data repository, was designed in 2011 with the intent to solve many of these problems at once. understanding of credit agreements, loan funding mechanics, deal structures, funds flows, and the primary and secondary loan trading market and settlement process, including . Initiate and coordinate trade settlement process with ClearPar system and coordinate with Syndications and internal trade settlement teams for Institutional trades and asset sales. ClearPar Takes Aim At Settlement Efficiency October 15, 2004 12:00 AM ClearPar, the Web-based settlement system used in the primary and secondary loan markets, is upgrading its technology in a bid. To be considered, you will need: At least 5 years of syndicated loan experience. Date Posted 01/13/2022. ClearPar, launched in 2001, is part of FIS' ACBS division and provides a middle-office platform for trade settlement in the syndicated loan market. Tom Gough, managing director and head of Portfolio Control at CIFC Asset Management, said: "The ability of WSO to automatically update our trades with settlement data from ClearPar will help streamline the post-trade process and make us more efficient. The ClearPar distressed loan settlement solution offers electronic workflows to review upstream ownership history, manage inventory and create purchase and sale agreements. Deal Closing Analyst - Hybrid Apply Now. Northern Trust Fully Automates Complex Syndicated Bank Loan Trade Process But things didn't quite go as planned. "Settlement involves the delivery of securities from one party to another. Alexis K. Paddock . Pay. CLEARPAR TERMS OF USE Service Use of Service. . "The benefits are obvious for our customers," said Salerno. Subscribe Ascendo Resources 3.3. The recruiter has to be able to contact you ASAP if they like to offer you the job. If you need an accommodation during the application process due to a disability, please send an email to: EEO.Compliance@spglobal.com and your request will be forwarded to the appropriate person. It is also integrated with ClearPar and Loan Reconciliation. Job Type Full time. Used by buyers, sellers, agent banks, custodians and legal professionals, our platform automates affirmation, confirmation and matching to facilitate straight through processing (STP) for loan trades. ClearPar provides a complete electronic trade processing ecosystem used to settle syndicated loan trades. Easily apply. $50 Hourly. Automating those processes allows buyers and sellers to settle trades much more quickly and efficiently. Settlements Analyst role is responsible for excel, microsoft, technology, database, mainframe, design, modeling, software, interpersonal, analytical. Experience working with leverage facilities, repos and CLOs. Debt Settlement, Health Insurance, etc and know how to close, you are a prime candidate. With those processes. United States, (845)639-4800. www.clearpar.com. Urgently hiring. The ClearPar distressed loan settlement solution offers electronic workflows to review upstream ownership history, manage inventory and create purchase and sale agreements. After a busy fall recruiting process, I am extremely excited to . The settlement usually happens T+7 days from the trade date. Report job. Northern Trust Automates Syndicated Bank Loan Settlement - Markets Media Newsletter A press release issued in late 2014 during the time of Virtus' takeover of Trade Settlement said that Trade Settlement was used by more than 600 buy-side firms and "all of the major agent banks." ClearPar and ClearMore are user-friendly par and distressed loan settlement systems that increase liquidity, market growth, efficiency and productivity in the secondary trading market and primary syndication market. It was designed to replace ClearPar, the legacy platform also owned by Markit, and ultimately achieve gen-uine, front-to-back STP. Type. Documents and tasks move from one workbin to another when tasks are performed and appear in workbins when a certain action is required. "With ClearPar, this process will be streamlined and standardized across the industry which, in turn, will considerably reduce all-in costs and settlement times associated with distressed trades." Our platforms improve the settlement process through a wide range of auxiliary services . Full-time. Customer trade settlements: 1 year (Preferred). Since then, it has systematically automated multiple aspects of the trade closing process while creating a global network connecting nearly 1,000 trade counterparties, agents, legal counsel and other service providers. . Minneapolis, MN. The result is a platform that helps buyers, sellers, agent banks, custodians and legal professionals execute fast and efficient straight-through trades. Anthony R.G. The trade completed by Deutsche Bank using ClearPar closed in 10 days. Strong Data skills would be an advantage; Experience with Markit/ClearPar, WSO, Sentry, SimCorp Dimension, or other trade capture & settlement systems If you work hard and can close, you will make top dollar. Location Charlotte, NC. Work closely with ClearPar contacts, trading desk, and legal counsel to manage loan trading activity and settlements on loans; Knowledge of multiple asset classes; Responsible for supporting HY, IG, Convertible bonds, Bank Debt and Special Situations businesses . 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