Following three years at the helm of Markit Document Exchange, Penny Davenport has opted to head for pastures new. As managing director and head of Markit’s documentation library since its launch back in 2008, Davenport has helped the document platform to gain critical mass and extend its reach to other areas such as reference data sets and entity data.
Davenport first joined Markit as a director back in 2003 to head reference data focused initiatives, with responsibility for the integration and ongoing management of the vendor’s reference entity database (RED). This included all aspects of development, as well as driving industry adoption of RED codes as a standard for trade matching and settlement.
Prior to this, Davenport worked for Lombard Risk Systems where for two years prior to her departure she was managing director of the Valuation Services Division with responsibility for managing the ValuSpread product and team.
No doubt Davenport’s risk and data management experience will stand her in good stead for any future roles in the financial services industry.
Markit Document Exchange is essentially aiming to eventually become a one stop shop for all the data needed from the buy side in order to provide the industry with real efficiency and risk management benefits. The vendor is attempting to extract value out of the documents stored on its platform, which was established in order to allow financial institutions to post, manage and share these compliance, counterparty credit and regulatory documents securely.
The vendor has also partnered with other vendors in the reference data space, including DTCC owned entity data specialist Avox and OTC derivatives documentation specialist DocGenix.