London, New York, NY and Dallas, TX - Markit, the financial information services company, and JPMorgan today announced that they have agreed to terms under which Markit will acquire J.P. Morgan FCS Corporation (“FCS”). FCS is the leading provider of portfolio and risk management software and services to syndicated loan market participants, including the Wall Street Office family of products.

The combination of FCS and Markit brings together highly complementary data and software services. The combined entity will be the leading provider of independent loan market data and software, currently used by over 400 financial institutions to manage over $1 trillion in assets. This will reinforce Markit’s position in the global credit markets, and enable the firm to develop and deliver innovative solutions to improve operational efficiency and transparency in the loan markets.

Lance Uggla, Chief Executive Officer of Markit, said: “Both FCS and Markit have long and proven track ...   more »