Reuters (LSE: RTR; NASDAQ: RTRSY) and Markit today announced a wide-reaching content distribution deal for their customers. Users of Reuters’ premium desktop, 3000 Xtra, will now gain access to Markit’s comprehensive range of Credit Default Swap (CDS) data including Markit’s new Intraday service.
Markit Intraday is a streaming pricing tool for the leading credit indices, iTraxx and CDX, as well as their constituents, which draws from the major CDS market makers globally. This service will be provided to all users of Reuters’ 3000 Xtra.
Reuters will also provide mutual customers with Markit’s End of Day and Sameday pricing for the full universe of approximately 3,300 credits.
Andrew Hausman, global head of fixed income at Reuters, said: "Combining Markit’s best in class CDS data with Reuters’ superior credit news, data and analytics on Reuters 3000 Xtra desktop enables us to offer our customers powerful price discovery capabilities. We believe Reuters customers who elect to add Markit’s CDS data will have a distinct advantage over others in the credit markets."
Lance Uggla, ceo of Markit, said: "Markit’s arrangement to distribute credit content via Reuters is unique and a first of its kind. This is the first time that we have allowed our data to be redistributed by a third party, and we chose Reuters as a strategic partner because of their extensive global footprint. We look forward to bringing greater transparency to the credit markets by delivering Markit’s benchmark CDS pricing to Reuters’ broad client universe."
