Friday, February 12, 2016

Financial Data Provider Markit Acquires Syndicated Loan Technology From J.P. Morgan

Additional technology from J.P. Morgan will enhance Markit's capabilities, advance straight through processing and trade settlement.

Image credit: the Globe and Mail
Markit, a leading global provider of financial information services, has acquired the syndicated loan technology from J.P. Morgan. Financial terms of the deal were not disclosed. The deal is not expected to have a material impact on Markit’s financial results this year.

Markit will make the software available to sellside and buyside institutions seeking to integrate with major systems used in the syndicated loan market. The company’s comprehensive solution for efficient loan management includes the following: pricing, reference data, credit and portfolio analysis, indices, agent servicing portals, automated trade settlement, messaging hubs and portfolio management.

Scott Kostyra, Managing Director and Head of Loan Settlement in Markit’s Processing Division, said in a statement: 
Acquiring this software allows Markit to provide the global syndicated loan market with a proven solution for integrating with the newest technology for straight through processing of loan transactions and lifecycle events. We are offering an alternative to expensive and risky internal software builds and helping expedite industry adoption of risk and cost reducing initiatives such as Markit Clear for trade settlement and FpML for electronic communication of loan information.”

Founded in 2003 and headquartered in London, United Kingdom, Markit is a leading global provider of financial information services. Markit provides independent data, trade processing of derivatives, foreign exchange and loans, customised technology platforms and managed services. Its customers include banks, hedge funds, asset managers, central banks, regulators, auditors, fund administrators and insurance companies. Markit share are listed on NASDAQ under the symbol MRKT, it employ over 4,000 people in 11 countries.

No comments:

Introducing A Great Place To Find A Job

The marketplace where tech companies compete to hire you. Meet 5 to 15 top companies in one week with salary info upfront. You’re in demand. Shouldn’t companies you love come to you with offers upfront? We think so. That’s why Hired is changing the way you find your next job with a faster, more transparent job search process built specifically for Python Programmers, RoR Developers, Java Programmers, Software Engineers, Big Data Scientists, Data Scientists, DevOps, UI/UX Designers, Product Managers, and Web Developers.

Hired is the first two-sided marketplace created specifically for Engineers, Data Scientists, Designers and Product Managers who are overwhelmed with job opportunities.

We believe recruiting should be transparent, unbiased, and that the talent should be in control. Our one week “auctions” provide upfront offers from vetted and funded companies, dedicated talent advocates, and a $2,000 signing bonus.

Our mission is to make hiring, or getting hired, less painful. A Whole New Recruiting Model.


Learn More: GET HIRED!
What is managed cloud? Managed cloud lets you tap the power of the cloud for your strategic business goals without the frustration, cost, and time of managing it yourself.

Learn more about Managed Cloud and Rackspace the #1 managed cloud company
 —empowering you to move beyond the limitations of do-it-yourself cloud with the support of thousands of expert engineers. 

VMware: Virtualizing the Entire Data Center

Virtualizing the Entire Data Center by: VMware, The World's Leader in Virtualization and Cloud Infrastructure

VMware vSphere Essentials delivers the industry-leading virtualization platform for small businesses at an affordable price. Small businesses can virtualize their physical servers and centrally manage these servers, reducing hardware costs and increasing operating efficiency with a low upfront investment.
Provides cost-effective server consolidation and management for small offices

Learn more about the VMware vSphere Essentials