Mark-it Partners secures equity from nine more banks
12 January 2004 | 3824 views | 0
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.