Mark-it Partners, the daily pricing service for global credit derivatives, cash credit instruments and syndicated loan pricing, has signed a deal for its services with BlackRock.
Under the terms of the agreement, BlackRock, through its risk management division BlackRock Solutions, will receive the complete Mark-it data set, which will be used internally to support aspects of its asset management and risk management businesses for credit related products. Additionally, BlackRock Solutions will be embedding the data into their models and systems to enhance the credit analytics provided to their customers.
“Mark-it Partners’ data is the most comprehensive and accurate dataset available for credit spreads, says Ben Golub, Managing Director and Head of Portfolio Risk Management at BlackRock. “We believe that using it will have a major impact on what we can do with these assets going forward.”
Robert Goldstein, Managing Director, and Head of Client Service for BlackRock Solutions added that “the incorporation of Mark-it Partners into our product offerings ensures that our credit capabilities continue to keep pace with the rapidly evolving credit markets. It offers great value for our clients.”
Kevin Gould, Chief Operating Officer at Mark-it Partners, said he as pleased about BlackRock distribution deal. “This agreement promotes Mark-it Partners as a data provider of choice and further establishes our service as the marketplace standard,” he says.