Commenting on this partnership, Hervé Vinciguerra, CEO of Sophis said ‘This agreement is another step in Sophis strategic move into credit derivatives, and follows Sophis collaboration with AXA IM, announced in December 2004. Data management is a critical issue in our industry; along with our platform, we need to provide access to the best data sources on the market to ensure that we fuel our pricing and risk management engines with quality information. I am confident that this partnership will bring a significant added value to our customers.’
"The combination of Sophis cross-asset, front to back office capability and exposure in the derivatives area is an ideal fit for Markit's derivative, dividend forecasting, index price and reference data services. It will give mutual customers real benefits by accurately modelling their trade activity, measure risk profiles more effectively and reduce operational overheads as the growth of the credit derivatives area expands in terms of interest and customer demand" added Mark Hunt, Director of product development at Markit.