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Mark-it Partners secures equity from nine more banks

12 January 2004  |  3824 views  |  0 trading_screen_6

UK credit data vendor Mark-it Partners has secured equity investments from nine additional financial institutions, bringing the total number of firms that have committed both capital and data to the business to 13.

London-based Mark-it says every institution that participated in the formation of the service through a data commitment has now exercised options to make a strategic equity investment in the company.

Lance Uggla, CEO of Mark-it Partners, says: "This additional financial investment by our strategic partners provides us with a strong capital base to finance additional investments that will create a more liquid and transparent credit market."

Mark-it is now working with over 100 financial institutions to distribute market valuations on corporate bonds, credit default swaps and syndicated bank loans on a daily basis.

The company acquired LoanX, a US provider of syndicated loan pricing data, in December 2003.

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