Markit Eyes Augmented Commodities Capabilities, Acquiring Interest in PRIMA

Markit, a provider of financial information services, has been one of the more active players in the mergers and acquisition space over the past few months. In its latest bid to shore up its Multi-Asset Multi-Asset Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Read this Term capabilities, Markit has acquired an interest in commodity markets research and price reporting agency PRIMA.

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PRIMA is a UK-based commodity markets research group and Price Reporting Agency (PRA). The group focuses on a wide range of commodities including biofuels, energy, and agricultural markets. PRIMA has also developed its own native proprietary pricing software, tapped PRIMA, which is of interest to a number of institutional venues and trading facilities.

The acquisition and effort to beef up its commodities focus constitutes Markit’s latest attempt to strengthen its overall offering and financial services product suite, which is already utilized across the industry.

According to Nathan Amery, Head of Commodities at Markit, in a recent statement on the interest: “Commodities producers, traders and consumers are demanding greater transparency in commodity benchmarks and more accountability from benchmark publishers. Utilising our deep benchmark expertise, Markit will help ensure that PRIMA is ideally positioned to provide an alternative to traditional oil and agricultural pricing resources.”

“Commodities trading participants are eager for change and renewal in benchmarking and research activities. We see this partnership as a tremendous opportunity to increase our pace and scope of growth across the commodities spectrum,” added Matthew Stone, Managing Director at PRIMA, in an accompanying statement.

Back in March, Markit also acquired the credit default swap (CDS) pricing service of Fitch Solutions for an undisclosed sum. This followed an earlier move in which Markit made a play for CoreOne Technologies back in December.