Markit, a financial information services provider, has announced the acquisition of equity research and analytics firm Quantitative Services Group (QSG), which it will use to launch new tools for buy-side firms.
The purchase will extend Markit’s equity capabilities and enable it to combine its data products with QSG’s statistical processes to create new offerings for investment managers and traders.
Markit also plans to broaden the reach of QSG’s quantitative, factor-based research and trade analytics services to the global over-the-counter markets.
“The combination will allow us to develop new services for the equity and fixed income markets which will provide our customers with unique ways to recognise trading signals both within and across asset classes,” said Armins Rusis, managing director and global head of data, indices and research at Markit.
“Joining forces with Markit gives us global reach and a focused opportunity to incorporate high-quality datasets directly into our offerings,” added QSG CEO Tim Sargent. “This combination will position us to expand our product set and serve the growing analytical needs of equity and fixed income clients alike.”