Mark-it snares first French contributor

In return for market data provided by Mark-it, CAI will feed back credit pricing data to Mark-it on a daily basis. Kevin Gould, chief operating officer at Mark-it, said these terms are a prerequisite for any contract.

CAI is the company’s tenth customer since its inception in 2001. Mark-it hopes to unveil a slew of new customers in France and other European countries such as Italy, Germany, the Netherlands and Scandinavia within the next couple of months. Gould said Mark-it is in talks with about 75 institutions.

Mark-it chief executive Lance Uggla said: “Our overall marketing strategy in Europe is to continue to grow the contributions from important players in regional markets to be able to provide a benchmark service on both local and international credit.”

An official working for the credit derivatives department at BNP Paribas confirmed the bank was in ongoing talks with Mark-it, but stressed that talks were at an early stage. Officials at other large French banks were unavailable for immediate comment.

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