Diversified Financial Services
Company Overview of Markit Ltd.
Markit Ltd. provides financial information services worldwide. It operates through three divisions: Information, Processing, and Solutions. The Information division provides pricing and reference data, indices, and valuation and trading services across multiple asset classes and geographies through direct and third-party distribution channels. Its products and services are used for independent valuations, research, trading, and liquidity and risk assessments. The Processing division offers trade processing solutions for over-the-counter derivatives, foreign exchange, and syndicated loans. The Solutions division provides configurable enterprise software platforms, managed services, and hosted...
25 Ropemaker Street
London, EC2Y 9LY
Founded in 2003
Key Executives for Markit Ltd.
Markit Ltd. does not have any Key Executives recorded.
Markit Ltd. Key Developments
Markit Introduces Netting Synchronisation Service for Cleared OTC Derivatives
Nov 18 15
Markit announced the launch of a service to help banks automatically update their risk systems after netting and compression activity at their clearing houses. The service is live with LCH.Clearnet’s SwapClear and will expand to other clearing houses. Netting exposures within a clearing house helps firms reduce the capital and operational costs associated with OTC derivatives. With Markit, firms have a single source for the data they need to cancel trades terminated at clearing houses and create new trades to represent residual positions resulting from the netting process. Firms also gain the ability to reconcile all OTC derivatives trades, cleared and uncleared, with the data maintained centrally by Markit’s trade processing service for OTC derivatives, MarkitSERV. Markit can also send regulatory reports to update trade repositories on behalf of customers, where applicable.
Markit Ltd. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015
Nov 10 15
Markit Ltd. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported revenue of $277.3 million compared to $269.7 million for the same period a year ago. Operating profit was $19.9 million compared to $95.3 million for the same period a year ago. Profit before income tax was $13.2 million compared to $90.8 million for the same period a year ago. Profit attributable to owners of the parent was $6.7 million of $0.04 per basic and diluted share compared to $80.3 million or $0.43 per diluted share for the same period a year ago. Adjusted EBITDA was $123.5 million compared to $126.8 million for the same period a year ago. And margins decreased year-over-year to 44.9%, primarily due to reduced revenue in the Processing segment. Adjusted earnings were $68.2 million compared to $68.7 million for the same period a year ago. Adjusted earnings per diluted share were $0.37 compared to $0.37 a year ago. Diluted share count decreased 1.3%, largely as the result of previously announced share repurchase in second quarter.
For the nine months, the company reported revenue was $821.9 million compared to $793.7 million for the same period a year ago. Operating profit was $175.4 million compared to $198.0 million for the same period a year ago. Profit before income tax was $155.6 million compared to $185.2 million for the same period a year ago. Profit attributable to owners of the parent was $106.0 million or $0.56 per diluted share compared to $149.5 million or $0.81 per diluted share for the same period a year ago. Net cash generated from operations was $333.1 million compared to $238.6 million for the same period a year ago. Purchases of property, plant and equipment was $12.0 million compared to $18.4 million for the same period a year ago. Purchases of intangible assets were $76.4 million compared to $69.6 million for the same period a year ago. Adjusted EBITDA was $365.1 million compared to $363.5 million for the same period a year ago. Adjusted earnings were $205.1 million compared to $209.9 million for the same period a year ago. Adjusted earnings per diluted share were $1.08 compared to $1.14 for the same period a year ago.
Markit Announces Launch of Markit WSO Credit Manager
Oct 28 15
Markit announced the launch of Markit WSO Credit Manager, a credit and portfolio analysis application for investment professionals focused on bank loans. Credit Manager was designed in partnership with CVC Credit Partners and other industry experts. The application helps portfolio managers and credit analysts make investment decisions by centralising the data they need to select investments, monitor credit performance and identify risk. Credit Manager streamlines credit selection with screening functions that filter investment opportunities based on technical and fundamental criteria. The system alerts users about changes to portfolio holdings and provides collaboration tools to help investment teams coordinate their response if action is required. Dashboards in the application display portfolio level risk and performance information such as concentrations, relative value and weighted average metrics.
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