Markit, a leading provider of independent data, portfolio valuations and over-the-counter (OTC) derivatives trade processing, today announced the appointment of Scott Stark as a director in its index division, based in London.
Stark will lead a new bespoke index service within Markit that will offer index administration, calculation, and publication, to third parties. The new service comes at a time of increased index trading activity and a proliferation of structured products based on indices.
Markit’s bespoke index service will span synthetic credit, structured finance, equities, bonds, interest rates and foreign exchange. Additional asset classes will be added to the service as required.
Stephan Flagel, managing director and head of Indices at Markit, said: "Scott is an excellent addition to Markit’s index team, and his expertise in the US and European index markets will be invaluable as we launch our new bespoke index service. We believe that our reputation for operational excellence, independence, transparency and objectivity will make us the partner of choice for firms looking to outsource their index production to a trusted index provider."
Stark joins Markit from EuroMTS where he was ceo of their index division for five years. In this role, he was responsible for the launch of a series of pan-European government bond indices which have over EUR 1 trillion benchmarked against them. Prior to EuroMTS, Stark was the Managing Director at STOXX Limited where he worked closely with banks, exchanges and ETF issuers to establish STOXX as Europe’s leading equity index family.
Scott Stark said: "I look forward to working with the team at Markit and I hope that my experience can add a valuable dimension to their already excellent services."