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Markit Acquires Wall Street On Demand

Deal enables Markit to utilize Wall Street On Demand's web site hosting, design, development and reporting tools.

Markit, the leading global supplier of derivatives information and processing services, is acquiring Wall Street On Demand, an expert in the design, development and hosting of financial services web sites, reports and tools.

Markit said the acquisition would enhance the company’s ability to deliver products and services to its clients and will accelerate the distribution of Wall Street On Demand’s tools and web applications to the financial services industry. Existing cliients of Wall Street On Demand will benefit from Markit’s deep content set, according to the release.

“The transaction will enable us to play a leading role in the ongoing transformation of the financial industry by delivering innovative products and services to our customers,” stated Lance Uggla, CEO of Markit, in the release.

Jim Tanner, CEO of Wall Street On Demand, also commenting in the release, said he was “excited by the opportunity to combine our customer presentation capabilities with Markit’s content and global presence.”

Upon completion of the deal, Wall Street On Demand will continue to be based on Boulder, Colorado and its employees will become part of Markit. The condition, subject to closing conditions and approvals, is expected to close in the next few weeks.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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