DealHub: Another buy from Markit

Hard on the heels of its recent purchase of CoreOne Technologies, Markit is now buying Dealhub, a provider of trade processing and trading services to the FX market. DealHub will be incorporated into the Group's Processing Division as the Markit management broaden the proposition to FX traders and money managers. Markit is pushing hard into the FX market, offering centralised processes to help market participants manage compliance and data management alongside their growing array of trading services. Financial terms of the deal were not disclosed.Markit's acquisition strategy is another clear recognition of the rapid evolution of the financial services markets. The big dealers are seeking ways to reduce costs (see today's HotView on the new Wall Street reference data utility) and the smaller players are increasingly looking for broadly-based and technically competent suppliers to equip them with the wherewithal to compete in fast-moving markets. These underlying market trends will continue to intensify and this recent flurry of acquisitions and corporate deals is unlikely to be the last.