The combination of the two firms will provide clients with an enhanced ability to monitor the global financial markets in real-time, and to publish and distribute proprietary and public prices and trade information across all asset classes, Markit claims. It will also address the evolving requirements posed by the European Markets in Financial Instruments Directive (Mifid).
MarketXS’s market data and order routing technology, the Finance Engine, has extensive capabilities in the areas of pre-trade price transparency, analytics, trading, and post-trade reporting. This hosted real-time platform provides immediate and uniform access to any market or data source from any location, allowing customers to power their data and trading systems.
The acquisition, announced today, is the London-based data and valuation service provider’s second in recent weeks. Last week, Markit bought New York-based analytics firm Chasen Enterprises as part of an effort to strengthen its structured finance division.