London, New York — Bloomberg and Markit today announced a non-exclusive agreement to distribute their pricing and reference data through Markit’s Enterprise Data Management (EDM) platform and Bloomberg PolarLake respectively.

Markit’s EDM services and Bloomberg PolarLake provide enterprise data management solutions that enable the acquisition, validation, storage and distribution of data in a consistent, fully audited environment.

John Randles, chief executive officer of Bloomberg PolarLake, said: “In today’s demanding regulatory environment, financial institutions want a data governance process that reduces costs, mitigates risk exposure, and enhances data quality. This agreement enables Bloomberg PolarLake to deliver a more comprehensive data management solution as an installed or hosted EDM service, in order to better meet the needs of our financial services clients.”

Daniel Simpson, managing director and head of enterprise software at Markit, said: “This agreement between Markit and Bloomberg is a win-win for our customers, giving them the ability to manage their data through their system of choice. We look forward to making this enhanced data set available across our installed and hosted EDM platforms.”

About Bloomberg PolarLake

Bloomberg PolarLake, the global EDM managed services provider, delivers a robust, customizable, open and inclusive managed data service, which centrally acquires, manages and distributes complex and wide-ranging financial data sets with speed, agility and control. Worldwide, financial firms benefit from the Bloomberg PolarLake managed service through reduced costs and increased data quality achieved by eliminating the need to build home-grown solutions and avoiding the non-stop maintenance and upgrade cycle of in-house implementations. For more information, please visit www.polarlake.com.

About Bloomberg

Bloomberg, the global business and financial information and news leader, gives decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Professional service, which provides real-time financial information to more than 315,000 leading business and financial professionals around the world. For more information, go to www.bloomberg.com/now.

About Markit

Markit is a leading, global financial information services company with over 3,000 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. For more information, please see www.markit.com

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APAC, Debbie Liew, dliew2@bloomberg.net, +65-6212-1166