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Markit to take over Boat--according to Reuters

21 January 2008 1 comment

Elizabeth Lumley

Global FinTech Commentator

Girl, Disrupted

If this Reuters news item turns out to be true, Markit has a very good chance of becoming the number three data vendor behind Reuters/Thomson and Bloomberg.

In fact, Tom Glocer was alledged to have said last year, that Boat would emerge as the data provider to fill the spot left open by the Thomson acquisition of Reuters.

Markit has long been a company to watch, aided by the crediability it garners by managing the RED database for CDSs. Its days as a small, (but smart), company, may be comming to an end.

Who knows? With Sharon Rowlands leaving Thomson once the merger is complete, maybe she will seek out a new home at a new data power-player?

Any thoughts?

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Comments: (1)

Paul Penrose Head of Research at Finextra

22 January 2008

We tried to get the Boat people to speak at Finexpo, but they declined, leaving us with the distinct impression that all was not well with the venture. The Reuters' report confirms this, but cites only the banking coalition's wish for an independent entity as the reason for the spin-off. Markit's a smart company, but if the problems go deeper they may yet struggle to turn it around. A successful sale would require cast-iron guarantees from the coalition members that they would continue to use the Boat platform as customers.

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Elizabeth Lumley

Global FinTech Commentator

Girl, Disrupted

Member since

05 Nov 2007

Location

Crayford

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