Markit has acquired QuIC Financial Technologies,a risk analytics solutions provider.
QuIC will become part of Markit’s valuations and analytics services unit, and will still offer all of its existing services to clients.
Markit’s data set will be integrated into the QuIC Engine. This includes all major asset classes in the cash and over-the-counter derivative markets, such as bonds, credit default swaps, loans, equities, commodities and rates.
Markit and QuIC’s integrated platform will offer a comprehensive solution for risk-related services that span independent pricing, valuations and analytics across asset classes.
“Entering the risk analytics space is a natural evolution for Markit and our combination with QuIC will give us a market-leading offering in this fast-growing area," said Sal Naro, executive vice president and global head of valuations and analytics services at Markit. "We are excited about working with the team at QuIC and believe that, together, we can deliver the solutions the industry needs to understand and manage risk effectively.”