Markit acquires Data Explorers
Markit has acquired Data Explorers, a provider of global securities lending data, from mid-market private equity firm Bowmark Capital.
Data Explorers’ data set, which covers USD12 trillion of securities in the lending programmes of over 20,000 institutional funds, provides a comprehensive view of short interest data and institutional fund activity across all market sectors. It is used by beneficial owners, custodians, agent lenders, prime brokers and asset managers to help inform investment decisions, manage risk and produce independent benchmarks.
This acquisition comes as the new regulatory environment is changing the dynamics of the securities financing markets. By combining Data Explorers’ data set with its own products and services, Markit will be able to develop new offerings allowing clients to optimise their use of collateral. Markit will also develop products for equity market participants in the ETF, dividend forecasting and quantitative research areas to complement its existing services.
Lance Uggla (pictured), CEO of Markit, says: “Markit’s acquisition of Data Explorers represents a logical extension to our existing data, research and analytics for the equity markets and complements our extensive fixed income offering. Our global distribution capabilities and robust technology infrastructure put us in a strong position to develop a compelling offering for our combined customer base globally.”
Donal Smith, CEO of Data Explorers, says: "With support from Bowmark Capital, Data Explorers has achieved fantastic growth over the last four years. We have more than doubled revenues and tripled profitability with new product innovation and expansion into Europe, North America and Asia. Data Explorers is now the leading provider of data and analytics to the entire securities finance market from agent lenders through to hedge funds and our services are a great fit with those offered by Markit."
Data Explorers was established in 2002 and has offices in New York, London, Edinburgh and Hong Kong.
- Special Reports
- By Location
- Asian Hedge Funds
- BVI Hedge Fund Services
- Bermuda Hedge Fund Services
- Canada Hedge Fund Services
- Cayman Hedge Fund Services
- Channel Islands Stock Exchange
- Future of offshore funds
- Gibraltar Hedge Fund Services
- Guernsey Hedge Fund Services
- Hedge Funds in Germany
- Hong Kong Hedge Fund Services
- Ireland Hedge Fund Services
- Isle of Man Hedge Fund Services
- Jersey Hedge Fund Services
- Jersey Private Equity Services
- Latin American Hedge Funds
- London Hedge Fund Services
- Luxembourg Hedge Fund Services
- Malta Hedge Fund Services
- Middle East Hedge Fund Services
- Singapore Hedge Fund Services
- South African Hedge Fund Services
- Spanish Hedge Funds 2008
- Switzerland Hedge Funds
- US East Coast Hedge Fund Services
- US Hedge Fund Services
- By Subject
- Conference reports
Latest Special Report
- By Location
- How to set up a hedge fund