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Quintillion Partners With Markit to Offer Derivatives Valuations
London– Markit Group Limited (“Markit”), the leading industry source of independent data, portfolio valuations and OTC derivatives trade processing for the global financial and commodities markets, and Quintillion, a Dublin-based fund administration services company, today announced a partnership to provide mutual customers with closely integrated fund administration services and independent Over-The-Counter (OTC) derivatives valuations.
Quintillion is a full service hedge fund administration specialist that provides its clients with back office, fund accounting and investor services. Quintillion’s systems, technology commitment and operations expertise ensure that all portfolio investment strategies and fund structures are accommodated in a single location, allowing clients to manage a range of funds with the support of a single administration partner.
The partnership will allow Markit and Quintillion to work together to provide mutual clients with independent valuations on their complete portfolio of derivatives positions, including commodity, credit, equity, currency and interest rate swap instruments.
Tim Barker, Executive Vice President and Head of Valuations at Markit, said: “We are very impressed with Quintillion’s focus and professionalism, and welcome the opportunity to work with them in close partnership. Their abilities and experience in hedge fund administration, combined with Markit’s expertise in valuing OTC derivatives portfolios, will be a winning combination.”
Markit’s portfolio valuations service provides investment managers, fund administrators, custodians and banks with an independent post-trade calculation of the gross asset value of a portfolio of OTC derivatives. The service is calibrated with Markit’s proprietary data, received from over 75 leading market makers, distinguishing it from other, model-driven services.
For further information, please contact:
Markit
Teresa Chick
Director, Corporate Communications
Tel: +44 20 7260 2094
Email: teresa.chick@markit.com
Quintillion
Ken Somerville
Head of Business Development
Tel: + 353 1 523 8003
About Markit
Markit Group Limited is the leading provider of independent data, portfolio valuations and OTC derivatives trade processing to the global financial and commodities markets. The company receives daily data contributions from over 75 dealing firms, and its services are used by almost 1,000 institutions to enhance trading operations, reduce risk and manage compliance.
Markit’s position in the derivatives markets has been acknowledged by the industry with numerous awards. In 2006, the company won Operations Management’s Vendor of the Year award (Trade Processing); Financial News’ Best Derivatives Data Solution and Best New Vendor Solution (Portfolio Valuations); Credit’s Best Operational Support Services Provider; Inside Market Data’s Reference Data Provider of the Year, and Company to Watch; Risk’s Trading Initiative of the Year (Credit Event Fixings); and Structured Finance International’s Editor’s Award for Advancing Structured Finance. In 2005, Markit received International Securitisation Report’s Editor’s Award for Innovation; International Financing Review’s Innovation of the Year (Credit Event Fixings); Financial News’ Best Derivatives Data Provider; and Operations Management’s Vendor of the Year award.
For more information, see www.markit.com
About Quintillion
Quintillion is a hedge fund administration specialist based in Dublin's International Financial Services Centre and offering a range of solutions to the investment management community supported by world class technology and our experienced team of accounting and investor services professionals.
By deploying global standard technology solutions, Quintillion ensure that all portfolio investment strategies and fund structures are accommodated in a single location. Services span all key areas from NAV calculation to anti-money laundering checks, financial reporting, and performance fee calculation.
For more information, see www.quintillion.ie