Markit buys Data Explorers

City A.M. Reporter
FINANCIAL data firm Markit yesterday bought stock lending analytics firm Data Explorers from private equity firm Bowmark Capital for an undisclosed sum.

The acquisition is Markit’s first move into the securities lending business at a time when firms are looking to increase their use of this market to meet regulatory requirements for more collateral.

“[The deal is] a logical extension to our existing data, research and analytics for the equity markets,” said Lance Uggla, chief executive of Markit.