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Markit’s Valuations Business Reports 114% Increase in Pre-tax Profits for 2007

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Markit Group’s pre-tax profits for its derivatives valuations business over 2007 experienced an increase of 114% on the previous year. Overall profits for the firm as a whole rose by 47% on the previous year’s figures, according to its full year report.

The vendor has been focusing its attention on this valuations business over 2008 and this will continue into 2009, says Markit. It is also the likely primary source of evaluated prices for the clearing counterparty candidates in the credit default swap (CDS) market, which may boost its figures further still for next year.

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