London and New York, NY – Markit, a leading, global financial information services company, today announced that it has acquired QuIC Financial Technologies, Inc (QuIC). QuIC provides the world’s leading financial organisations with risk analytics solutions to test market and credit risk tolerance in financial portfolios and simulate risk at the enterprise level.
The acquisition will enable Markit to meet the growing demand for risk analytics and enterprise risk management services by combining its strengths in data and valuations with QuIC’s analytics expertise. Markit and QuIC’s integrated platform will be well-positioned to offer a comprehensive solution for risk-related services spanning independent pricing, valuations and analytics across asset classes.
QuIC will become part of Markit’s valuations and analytics services unit, and will continue to provide all of its existing high-quality services to clients throughout the financial industry. Markit’s rich data set, which spans all major asset classes in the cash and over-the-counter derivative markets – including credit default swaps, bonds, loans, equities, commodities and rates – will become a valuable input into the QuIC Engine™, the high speed computational framework that powers QuIC’s solutions.
Markit is a leading, global financial information services company with over 2,000 employees. The company provides independent data, valuations and trade processing across all asset classes in order to enhance transparency, reduce risk and improve operational efficiency. Its client base includes the most significant institutional participants in the financial marketplace. Markit was founded in 2001 as the first independent source of credit derivative pricing. Today, our data, valuations and trade processing services are regarded as a market standard in the global financial markets. Source: Markit Press Release