Markit Group Limited

Markit Group Limited

Markit is a financial information services company with more than 1,000 employees in Europe, North America and Asia-Pacific. Markit is headquartered in London. Other Markit offices include New York, Amsterdam, Toronto, Singapore, Frankfurt/Main and Tokyo.

Markit was founded in 2001 to provide daily credit default swap pricing. [cite news | url = http://www.reuters.com/article/mergersNews/idUSL1444559220071114 | title = Markit says buys IIC, agrees to buy CDS IndexCo | publisher = Reuters | date = 2007-11-14 | accessdate = 2007-12-14] Markit is owned by 15 large banks, four hedge funds and company employees.

In January 2006 Markit launched the first asset-backed securities index, ABX.HE. [cite news | url = https://www.markit.com/marketing/press_releases.php?date=17Jan2006 | title = CDS Indexco and Markit Launch Synthetic ABS Index | publisher = Markit | date = 2006-01-17 | accessdate = 2007-12-14] In May 2006 Markit bought Communicator Inc from White Plains, New York, a financial information technology company. [cite news | url = http://www.communicatorinc.com/pr/PR_2006_Markit_Acquires_Communicator.html | title = Markit Acquires Communicator | publisher = Communicator Inc | date = 2006-05-10 | accessdate = 2007-12-16] In August 2006 Markit acquired Chasen Enterprises, provider of structured securities modelling. [cite news | url = http://www.prnewswire.co.uk/cgi/news/release?id=177827 | title = Markit Reinforces Structured Finance Services Through Acquisition of Chasen Enterprises | publisher = PR Newswire | date = 2006-08-29 | accessdate = 2007-12-16] In September 2006 Markit bought Amsterdam-based MarketXS, a financial data distribution and trading solution provider. [cite news | url = http://www.bobsguide.com/guide/news/15170.html | title = Markit acquires MarketXS to meet client demand for bespoke delivery of data and MiFID compliance solutions | publisher = Bobsguide | date = 2006-09-04 | accessdate = 2007-12-16]

Markit's credit derivative data became especially sought after since the start of the 2007 subprime mortgage financial crisis. [cite news | url = http://www.financialpost.com/story.html?id=6c4652ed-aee7-4d11-bc86-1b849872c586 | title = Global investors struggle to value credit assets | first = Jane | last = Baird | publisher = Financial Post | date = 2007-11-23 | accessdate = 2007-12-16]

In November 2007 Markit acquired the owners of the iTraxx and CDX credit default swap indexes, International Index Company (IIC) and CDS Index Company (CDSIndexCo). [cite news | url = http://www.bloomberg.com/apps/news?pid=20601080&sid=awvPyvPEPnug&refer=asia | title = Markit Buying Owners of iTraxx, CDX Credit Indexes | publisher = Bloomberg | date = 2007-11-14 | accessdate = 2007-12-14] In December 2007 Markit announced the acquisition of SwapsWire [cite news | url = http://www.finextra.com/fullstory.asp?id=17820 | title = Markit to buy SwapsWire | publisher = Finextra.com | date = 2007-12-04 | accessdate = 2007-12-14] , an electronic trade confirmation network, which was completed in May 2008. [cite news | url = http://www.bobsguide.com/guide/news/2008/May/27/Markit_Completes_Acquisition_of_SwapsWire.html | title = Markit Completes Acquisition of SwapsWire | publisher = BobsGuide | date = 2008-05-27 | accessdate = 2008-07-07]

In January 2008 Markit acquired the Boat MiFID-compliant trade reporting platform from a consortium of nine investment banks. [cite news | url = http://www.finextra.com/fullstory.asp?id=17973 | title = Markit buys Boat | publisher = Finextra.com | date = 2008-01-22 | accessdate = 2008-02-04] In July 2008 Markit acquired J.P. Morgan's FCS Corporation, a provider of syndicated loan market portfolio and risk management software and services, including the Wall Street Office family of products. [cite news | url = http://www.wallstreetandtech.com/operations/showArticle.jhtml?articleID=209602186 | title = JPMorgan’s FCS Corporation Acquired By Markit | publisher = Wall Street & Technology | author = Dave Valiante | date = 2008-07-28 | accessdate = 2008-09-21] [cite news | url = http://www.bobsguide.com/guide/news/2008/Sep/4/Markit_Completes_Acquisition_of_FCS_from_J.P._Morgan.html | title = Markit Completes Acquisition of FCS from J.P. Morgan | publisher = Bobsguide | date = 2008-09-04 | accessdate = 2008-09-21]

References

External links

* [http://www.markit.com Markit website]


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