The judges commended Markitâs plans to launch Markit Valuations Manager - the first global, multi-bank, cross-asset client valuations platform - in January 2009. The service will bring considerable operational efficiency and transparency to a buy-side firmâs valuation process by offering electronic delivery of dealer OTC derivative and consensus cash valuations, alongside Markitâs own independent valuations.
Markit also won praise for Markit Intraday, a streaming pricing tool for the widely traded credit derivative indices, Markit iTraxx and Markit CDX, and their constituents. Please click here for the awards coverage in the December issue of Buy-Side Technology.
Jeff Gooch, Executive Vice President and Head of Portfolio Valuations at Markit, said: âClient demand for accurate, independent pricing and valuation services has never been greater, and we are committed to helping our buy-side clients move to best practice in price verification. We are delighted to have won two awards from Buy-Side Technology which single out Markitâs pricing and valuation services as the best in the industry.â
Victor Anderson, Editor, Buy-Side Technology, said: âMarkitâs success in the pricing and valuations space is hardly surprising: it has shown a consistent propensity to grow the business through acquisition and innovation, which has allowed it to successfully address some of the most acute challenges faced by buy-side institutions. Markitâs two category wins this year reflect its position as the clear market leader in an area of the buy-side that has, over the past 18 months, thrown up one challenge after another.â
The panel of judges included Buy-Side Technologyâs editorial team as well as buy-side-focused technology consultants from Aite Group, Deloitte Consulting, Investit and Morse.