Markit, the leading provider of independent data, portfolio valuations and OTC derivatives trade processing, has been named “Best Operational Support Provider” for the UK, Europe and the U.S. by Credit magazine. This is the second year running that Markit has topped the magazine’s annual ranking in this category.
The Credit awards are based on a rigorous voting process and a series of interviews with some of the largest credit investors in the world. Industry insiders praised Markit’s index management and reference data services and highlighted its role in the inaugural credit event auctions. Markit’s reference cashflow database, which calculates cashflows on all credit default swaps of asset-backed securities transactions, was described as playing a crucial role in this growing market.
Jeff Gooch, Executive Vice-President and Head of Portfolio Valuations and Trade Processing at Markit, said: “Because they are based on a rigorous process and evaluate the views of people in the credit industry, the Credit magazine awards are a ringing endorsement of our products and services.
It is good to see that the efforts we are putting into developing solutions which bring greater efficiency and transparency to the financial markets are being acknowledged for meeting the industry’s needs.”