. markit ltd. type public traded as nasdaq info 1 industry financial services founded 2003 headquarters london united kingdom number of locations 21 offices area served worldwide key people jerre stead ceo ihs markit & lance uggla president ihs markit 2 products financial information financial processing financial services financial solutions market data vendor revenue us 1.5 billion 3 number of employees 4 500 october 2015 divisions information processing solutions website www.markit.com markit ltd. is a global financial information and services company with over 4 000 employees 4 founded in 2003 as an independent source of credit derivative pricing . 5 the company provides independent data trade processing of derivatives foreign exchange and loans customised technology platforms and managed services . the company aims to enhance transparency reduce financial risk and improve operational efficiency . its client base includes institutional participants in the financial marketplace . 4 on march 21 2016 markit announced an all stock merger of equals with ihs inc. to form ihs markit . 6 the previously announced deal to merge ihs and markit closed on july 12 2016 . 7 contents 1 background 2 company performance 3 acquisitions 4 index products 5 management and employees 6 shareholders 7 offices 8 divisions products and services 9 competitors 46 10 partners 47 11 see also 12 references 13 external links background edit markit was founded in 2003 by canadian lance uggla 8 9 in st albans outside london as mark it partners to provide daily credit default swap cds pricing . 10 markit s credit derivative data sales rose during the subprime mortgage crisis in 2007 and later years . 11 in september 2009 markit and depository trust & clearing corporation dtcc launched markitserv a joint venture to provide over the counter otc derivative trade processing . 12 on may 5 2014 markit ltd. a company registered in bermuda filed for an initial public offering ipo to be listed on the nasdaq global select market under the symbol mrkt . 3 13 the stock began trading on june 19 2014 with an initial pricing of 24 per share . 14 company performance edit by 2009 markit had 1 000 institutions as clients including investment banks hedge funds asset managers central banks regulators rating agencies and insurance companies . 5 in 2012 the company had annual revenues of usd860 million with 3000 employees . in 2012 markit had a 5 billion valuation . 8 by 2013 markit served 3 000 institutions across the financial markets which include investment banks hedge funds asset managers central banks regulators auditors fund administrators and insurance companies . 4 acquisitions edit loanx inc. a us provider of syndicated loan data was acquired by markit in december 2003 . 15 totem valuations a supplier of consensus valuations and month end data was bought by markit in may 2004 16 communicator inc white plains new york based financial information technology company was acquired by markit in may 2006 . 17 chasen enterprises provider of structured securities modelling was acquired by markit in august 2006 . 18 marketxs amsterdam based financial data distribution and trading services provider was bought by markit in september 2006 19 the international index company iic and cds index company cdsindexco owners of the itraxx and cdx credit default swap indexes were acquired by markit in november 2007 20 swapswire s acquisition by markit announced in december 2007 . 21 which was completed in may 2008 . 22 the boat markets in financial instruments directive compliant trade reporting platform acquired by markit from a consortium of nine investment banks in january 2008 . the boat was owned by consortium of nine investment banks abn amro citigroup credit suisse deutsche bank goldman sachs hsbc merrill lynch morgan stanley and ubs who had launched the system in september 2006 . finextra 2008 23 the boat platform was established by these nine banks for the collection and sale of trading data following the introduction of eu s markets in financial instruments directive mifid in november 2007 . ntc economics a provider of global macro economic indicators and owner of the widely referenced purchasing managers index pmi series . 24 bought by markit in april 2008 . jpmorgan chase s fcs corporation a provider of syndicated loan market portfolio and risk management software and services including the wall street office family of products was acquired by markit in july 2008 . 25 26 fidelity information services s clearpar an electronic loan trade processing platform was acquired by markit in october 2009 which helped markit to work with dtcc to improve the processing of syndicated loans . 27 wall street on demand wsod boulder colorado based company which provides financial data visualization services acquired by markit in june 2010 . 28 29 quic financial technologies inc quic . risk analytics firm was acquired by markit in january 2011 . quic provides financial organisations with risk analytics services to test market and credit risk tolerance in financial portfolios and simulate risk at the enterprise level . 30 data explorers a provider of securities lending data bought by markit in april 2012 . 31 cadis an enterprise data management specialist was acquired by markit in may 2012 . 32 on april 2 2013 markit acquired the remaining interest in joint venture markitserv from dtcc . 3 markit agreed to acquire prism valuation on june 20 2016 . 33 index products edit on 17 january 2006 cds indexco and markit launched abx.he a subprime mortgage backed credit derivative index with planned to extend the index to underlying asset types other than home equity loans . 34 35 in a marketing presentation 2006 & wiley cds indexco was described as the owner of the dj cdx family of credit default swap cds indices formed from a merger of the major cds indices iboxx and trac x in april 2004 . it introduced a second generation product such as index tranches and index options . wiley 2006 36 they launched the home equity abx.he abx on 19 january 2006 . others such as credit cards abx.cc student loans abx.sl auto loans abx.au were to be announced in the future . advertised daily prices were available on the markit website . the purpose of the indices is to allow investors to trade exposures to the subprime market without holding the actual asset backed securities . the abx.he index was created from qualifying deals of 20 of the largest sub prime home equity abs shelf programs from the six month period preceding the roll . wiley & 2006 11 the market makers of abx.he were listed jpmorgan goldman sachs deutsche bank barclays capital bank of america bnp paribas citigroup credit suisse lehman brothers merrill lynch rbs greenwich ubs and wachovia . wiley & 2006 13 the loan credit default swap index lcdx a loan only credit default swap index was created in 2007 by cds index company cdsindexco . 37 forbes journalist described the creation of the index as just in time financial engineering . the lcdx provided protection for banks and hedge fund clients from the overly leveraged loan market . 2007 & lenzer 37 sixteen major financial institutions jpmorgan goldman sachs deutsche bank barclays capital bank of america bnp paribas citigroup credit suisse lehman brothers merrill lynch rbs greenwich ubs and wachovia 37 owned the private company called the cds index company cds indexco that developed the abx index on 17 january 2006 . markit group limited marketed the abx index and by 2007 had acquired cds indexco . on 17 the abx index was a credit default swap of asset backed mortgages of 30 of the most liquid mortgage backed bonds . hedge funds began shorting that abx index in early 2006 at par . the deutsche bank alone reportedly made 250 million . 2007 & lenzer 37 atlanta based intercontinentalexchange nyse ice a derivatives exchange and clearing house operator announced four credit index futures contracts based on the markit cdx and markit itraxx indices markit cdx na ig markit cdx na hy markit itraxx europe main and markit itraxx crossover would start in may 2013 . the contracts were subject to review by the commodity futures trading commission . 38 management and employees edit markit had 150 employees in 2003 and by the end of 2013 had around 3200 employees across the globe . 9 management per june 2016 3 name function lance uggla founder and chief executive officer kevin gould co founder and president jeff gooch chief financial officer adam kansler chief administrative officer shane akeroyd global head of sales stephen wolf head of group corporate strategy sarah bateman head of human resources rob flatley head of equities roy flint chief technology officer brad levy head of processing ranjit moses chief marketing officer chris williamson 39 chief economist sari granat general counsel michele trogni yaacov mutnikas cohead of solutions chip carver adam kansler cohead of information shareholders edit in 2013 different banks held 51 % of markit shares . 20 % of shares is held by markit employees and executives . as of october 2013 general atlantic is the biggest independent shareholder with 11 % of shares . 40 general atlantic s ceo william e. ford serves on the board of directors . 41 temasek holdings bought 10 % of shares in 2013 for 500 million thereby valuing the company at 5 bn . 42 shareholders 2013 % share 40 rbs 3.4 goldman sachs 5.3 jp morgan 7.9 bank of america 8 temasek 10 general atlantic 11 employees 20 offices edit markit is headquartered in london and incorporated in bermuda . other markit offices include new york dallas boulder calgary vancouver toronto amsterdam frankfurt main luxembourg tokyo singapore delhi and sydney . 4 5 43 44 north america south america asia europe australia africa vancouver calgary boulder dallas chicago toronto new york none noida gurgaon singapore hong kong tokyo amsterdam frankfurt henley london hq manchester edinburgh sydney none divisions products and services edit markit organizes itself in three divisions 3 4 division information processing solutions products and services valuation and trading services portfolio valuations totem pricing and reference data major asset classes reference entity database red bond reference data indices pmi series iboxx itraxx cdx and irxx.em . 45 markitserv derivatives markitclear loans enterprise software enterprise data management edm analytics wall street office wso managed services markit on demand mod counterparty manager revenue % 2013 48.5 % 28.0 % 23.5 % competitors 46 edit bloomberg l.p. thomson reuters dow jones & company factset s & p capital iq msci inc morgan stanley capital international prism valuation interactive data corporation superderivatives virtus partners 47 edit palantir technologies calypso technology murex riskval bloomberg l.p. factset thomson reuters ubs ihs inc. and many more market leaders . see also edit sungard algorithmics inc. moody s analytics standard and poor s data explorers references edit http www.nasdaq.com press release nasdaq welcomes ihs markit ltd to the nasdaq stock market 20160713 00642 https ihsmarkit.com about us.html a b c d e final prospectus . sec . 2014 06 20 . retrieved 2014 06 24 . a b c d e about markit . markit . retrieved 2013 12 13 . a b c markit usd interest rate curve xml specification pdf report . markit . 30 march 2009 . ihs and markit to merge creating a global leader in critical information analytics and solutions . businesswire . 2016 03 21 . http press.ihs.com press release corporate ihs markit rings opening bell nasdaq unveils new logo a b plumbers in suits . the economist . 2013 07 06 . a b companies house information harrison natalie 2007 11 14 . markit says buys iic agrees to buy cds indexco . reuters . retrieved 2007 12 14 . baird jane 2007 11 23 . global investors struggle to value credit assets . financial post . retrieved 2007 12 16 . markit and dtcc launch otc derivatives trade processing jv . finextra.com . 2009 09 01 . retrieved 2009