Markit

Markit Ltd. is a global, financial information and services company with over 3,600 employees, founded in 2003 as 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.

Background

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.