Markit (Nasdaq: MRKT), a leading global provider of financial information services, today announced that it has been engaged to administer and calculate UBS Investment Bank's investible indices.
Xavier de la Porte du Theil, head of Investment Strategies Structuring at UBS, said: “We are very pleased to be able to provide investors with the benefits of independent third-party benchmark administration by engaging Markit. Markit’s governance and oversight structure, together with its deep index expertise, will help UBS satisfy regulatory best practices while also enhancing our ability to efficiently deliver leading index products to our clients.”
Adam Kansler, co-head of Information at Markit, said: “With Markit’s deep expertise in providing complex and diverse indices and our robust systems and compliance framework to address existing and emerging benchmark regulatory requirements, we can provide UBS with an efficient and transparent alternative to in-house index management. This will allow the bank to more easily achieve regulatory best practices and concentrate on its core business of delivering financial products to its clients.”