Markit Breaks Through 'Half Century' With 50th RED Customer

London, 18 January 2005 - Markit, the leading industry source for independent asset valuation data and services facilitating price verification and risk management in global financial institutions, today announced it has signed its 50th Markit RED customer.

This new contract underlines the value and accuracy of RED's dataset, reinforcing its rapid take-up globally by investment banks and buy-side institutions, such as hedge funds and asset managers, alike.

Markit RED provides the market standard reference entity names, reference obligations and codes used throughout the credit default swap markets, encompassing on-line trading, documentation and settlement. RED has significantly increased the efficiency of the matching, confirmation and settlement infrastructure at client firms by diminishing legal and operational risks and reducing transactional costs.

Penny Davenport, Director of Markit RED said, "The start of 2005 sees the beginning of a new phase for RED. Last year, we were focused on building the database, extending its reach and growing the client base. Having signed 50 clients and having built the larger RED database into almost every corner of the credit infrastructure, this year we will focus on bedding down this more mature service."

Mark Beeston, Chief Operating Officer, Global Credit Trading at Deutsche Bank, said: "Markit RED has spurred growth and boosted liquidity in the global credit derivative market by establishing a market standard which has been invaluable to market participants in their efforts to achieve greater operational efficiency."

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About Markit

Markit is the leading industry source for asset valuation data and services supporting independent price verification and risk management in global financial and energy markets. Founded in 2001, the company is an independent enterprise with which the world's leading financial institutions and energy traders work strategically to create price transparency. Today, Markit enjoys the sponsorship of 13 financial institutions who manage assets in excess of $10 trillion, and data contribution relationships with over 45 dealing firms. Markit has designed, launched and acquired over 20 financial data services which are now used by over 300 institutions globally. Areas of product expertise and service include an independent valuation perspective on credit default swaps, syndicated loans, OTC derivatives and structured products (credit, equity, FX, rates, energy, power and metals), as well as dividend forecasting and index and ETF management.