S’pore buys into Bloomberg competitor

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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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. 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...

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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

NO COMMENTS

Leave a Reply