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Reuters and Markit to Deliver CDS Pricing Transparency
26 September 2007
LONDON – Reuters (LSE: RTR; NASDAQ: RTRSY) and Markit today announced a wide-reaching content distribution deal for their customers. Users of Reuters’ premium desktop, 3000 Xtra, will now gain access to Markit’s comprehensive range of Credit Default Swap (CDS) data including Markit’s new Intraday service.
Markit Intraday is a streaming pricing tool for the leading credit indices, iTraxx and CDX, as well as their constituents, which draws from the major CDS market makers globally. This service will be provided to all users of Reuters’ 3000 Xtra.
Reuters will also provide mutual customers with Markit’s End of Day and Sameday pricing for the full universe of approximately 3,300 credits.
Andrew Hausman, Global Head of Fixed Income at Reuters, said:
“Combining Markit’s best in class CDS data with Reuters’ superior credit news, data and analytics on Reuters 3000 Xtra desktop enables us to offer our customers powerful price discovery capabilities. We believe Reuters customers who elect to add Markit’s CDS data will have a distinct advantage over others in the credit markets."
Lance Uggla , Chief Executive Officer of Markit, said:
“Markit’s arrangement to distribute credit content via Reuters is unique and a first of its kind. This is the first time that we have allowed our data to be redistributed by a third party, and we chose Reuters as a strategic partner because of their extensive global footprint. We look forward to bringing greater transparency to the credit markets by delivering Markit’s benchmark CDS pricing to Reuters’ broad client universe.”
Contacts:
Karen Hindle Tel: +44 20 7542 6369
PR Reuters Sales and Trading Mobile: +44 7990 566 369
Email: karen.hindle@reuters.com
Teresa Chick Tel: +44 20 7260 2094
Director of Corporate Communications, Markit Mobile: +44 7747 468486
Email: teresa.chick@markit.com
Ends
About Reuters:
Reuters (www.reuters.com), the global information company, provides indispensable information tailored for professionals in the financial services, media and corporate markets. Through reuters.com and other digital properties, Reuters now also supplies its trusted content direct to individuals. Reuters drives decision making across the globe based on a reputation for speed, accuracy and independence. Reuters has 17,500 staff in 94 countries, including 2,400 editorial staff in 196 bureaux serving 131 countries. In 2006, Reuters revenues were £2.6 billion.
About Markit:
Markit Group Limited is the leading provider of independent data, portfolio valuations and OTC derivatives trade processing to the global financial markets. The company receives daily data contributions from 90 dealing firms, and its services are used by almost 1,000 institutions to enhance trading operations, reduce risk and manage compliance. For more information, see www.markit.com