Bloomberg & Markit Sign Cross-Distribution Deal For EDM Services

Bloomberg and Markit today announced a non-exclusive agreement to distribute their pricing and reference data through Markit’s Enterprise Data Management (EDM) platform and Bloomberg PolarLake respectively.

Markit’s EDM services and Bloomberg PolarLake provide enterprise data management solutions that enable the acquisition, validation, storage and distribution of data in a consistent, fully audited environment.

John Randles, chief executive officer of Bloomberg PolarLake, said: "In today's demanding regulatory environment, financial institutions want a data governance process that reduces costs, mitigates risk exposure, and enhances data quality. This agreement enables Bloomberg PolarLake to deliver a more comprehensive data management solution as an installed or hosted EDM service, in order to better meet the needs of our financial services clients."

Daniel Simpson, managing director and head of enterprise software at Markit, said: "This agreement between Markit and Bloomberg is a win-win for our customers, giving them the ability to manage their data through their system of choice. We look forward to making this enhanced data set available across our installed and hosted EDM platforms."