S’pore buys into Bloomberg competitor

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temasekThe Singapore government’s investment arm Temasek Holding for $500 million has bought a 10 per cent stake in UK-based financial information services company Markit Group to support the company’s expansion in Southeast Asian markets, according to media reports.

The investment will allow the group, which was founded just over a decade ago and has developed into a strong competitor to Bloomberg’s and Thomson Reuters’ financial data services, to expand beyond Europe and US markets to emerging markets in Asia, analysts say.

Markit mainly provides derivative and bond data and provides independent data, valuations and trade processing across all asset classes with offices in the UK, US, Canada, Europe, Japan, Australia and Singapore.

Launched as a franchise in providing data on prices and valuations of privately-traded credit derivatives, Markit has quickly expanded through acquisitions to a financial data empire that bites into the market shares of Bloomberg and Thomson Reuters.

“The strength of [Temasek’s] position and profile in Asia, an area where we see significant potential and opportunity, will help fuel our growth in the region,” Lance Uggla, Markit’s CEO and co-founder,  said in an e-mailed statement to media.

Markit has a growing association with Singapore, where it opened an office in 2005. Last year it launched a bond pricing service for the Singapore dollar bond market.

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Reading Time: 1 minute

The Singapore government’s investment arm Temasek Holding for $500 million has bought a 10 per cent stake in UK-based financial information services company Markit Group to support the company’s expansion in Southeast Asian markets, according to media reports.

Reading Time: 1 minute

temasekThe Singapore government’s investment arm Temasek Holding for $500 million has bought a 10 per cent stake in UK-based financial information services company Markit Group to support the company’s expansion in Southeast Asian markets, according to media reports.

The investment will allow the group, which was founded just over a decade ago and has developed into a strong competitor to Bloomberg’s and Thomson Reuters’ financial data services, to expand beyond Europe and US markets to emerging markets in Asia, analysts say.

Markit mainly provides derivative and bond data and provides independent data, valuations and trade processing across all asset classes with offices in the UK, US, Canada, Europe, Japan, Australia and Singapore.

Launched as a franchise in providing data on prices and valuations of privately-traded credit derivatives, Markit has quickly expanded through acquisitions to a financial data empire that bites into the market shares of Bloomberg and Thomson Reuters.

“The strength of [Temasek’s] position and profile in Asia, an area where we see significant potential and opportunity, will help fuel our growth in the region,” Lance Uggla, Markit’s CEO and co-founder,  said in an e-mailed statement to media.

Markit has a growing association with Singapore, where it opened an office in 2005. Last year it launched a bond pricing service for the Singapore dollar bond market.

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