Markit
 |
|
| Public | |
| Traded as | NASDAQ: MRKT |
| Industry | Financial services |
| Fate | in 2016 merged with IHS Inc. to form IHS Markit |
| Founded | 2003 |
| Headquarters | London, United Kingdom |
|
Number of locations
|
21 offices |
|
Area served
|
Worldwide |
|
Key people
|
Jerre Stead (CEO IHS Markit) & Lance Uggla (President IHS Markit) |
| Products |
Financial information Financial processing Financial services Financial solutions Market data vendor |
| Revenue |
 US$ $1.5 billion |
|
Number of employees
|
4,500 (October 2015) |
| Divisions | Information Processing Solutions |
| Website | www.markit.com |
Markit Ltd. is a global financial information and services company with over 4,000 employees, founded in 2003 as an independent source of credit derivative pricing. The company provides independent data, trade processing of derivatives, foreign exchange and loans, customised technology platforms and managed services. The company aims to enhance transparency, reduce financial risk and improve operational efficiency. Its client base includes institutional participants in the financial marketplace.On March 21, 2016, Markit announced an all-stock merger of equals with IHS Inc. to form IHS Markit.
The previously announced deal to merge IHS and Markit closed on July 12, 2016.
Markit was founded in 2003 by Canadian Lance Uggla in St Albans, outside London, as Mark-it Partners to provide daily credit default swap (CDS) pricing.
Markit's credit derivative data sales rose during the subprime mortgage crisis in 2007 and later years.
In September 2009 Markit and Depository Trust & Clearing Corporation (DTCC) launched MarkitSERV, a joint venture to provide over-the-counter (OTC) derivative trade processing.
On May 5, 2014, Markit Ltd., a company registered in Bermuda, filed for an Initial Public Offering (IPO), to be listed on the NASDAQ Global Select Market under the symbol MRKT. The stock began trading on June 19, 2014 with an initial pricing of $24 per share.
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