July 28, 2008

JPMorgan announced today that it has agreed to terms under which Markit, the financial information services company, will acquire J.P. Morgan FCS Corporation. FCS is a provider of portfolio and risk management software and services to syndicated loan market participants.

The combination of FCS and Markit will provide independent loan market data and software that's currently used by more than 400 financial institutions to manage over $1 trillion in assets.

According to Markit, this purchase will reinforce its 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.