Markit strengthens KY3P® with BitSight Security Ratings

LONDON & NEW YORK--(BUSINESS WIRE)--

Markit MRKT, a leading global provider of financial information services today announced a partnership with BitSight Technologies, the standard in Security Ratings, to enhance its Know Your Third Party (KY3P) platform. The integration of BitSight data will enable organisations such as banks and buyside firms to access daily security ratings, review industry benchmarks and take action to remediate security vulnerabilities.

Launched in October 2015, KY3P simplifies and standardises third party risk management processes with a focus on vendor due diligence and ongoing monitoring. By incorporating BitSight, KY3P will provide its customers, including banks and buyside firms, with high quality data to assess the security risks of their third parties. BitSight's cybersecurity ratings will be viewable in addition to third party company information, financial stability ratings and responses to standard due diligence questionnaires which are already available on the platform.

"Cybersecurity remains a top focus for organisations globally," said Gina Ghent, managing director, head of KY3P at Markit. "Markit continues to innovate and build new services to deliver critical functionality and meet our customers' needs. Never has it been more important to perform due diligence and continuously, dynamically monitor third parties. The addition of BitSight's data coupled with our Significant Event Notification and Tracking offers the tools needed to assess risks and take action immediately."

"We are thrilled to announce this strategic partnership with Markit," said Tom Turner, president and chief operations officer of BitSight. "Markit has deep expertise in all of the financial, operational and regulatory compliance aspects of organisations across the globe. The addition of BitSight Security Ratings to the KY3P platform will offer customers with a full view of their vendors' cybersecurity ratings. BitSight customers will be able to leverage BitSight Security Ratings from within the KY3P platform to streamline their processes to prioritise and manage risk."

BitSight provides objective, verifiable and actionable Security Ratings to organisations across all major industries. These ratings are a measurement of an organisation's security performance. Similar to credit ratings, BitSight Security Ratings are generated through the analysis of externally observable data such as compromised machines, vulnerabilities in important communication protocols and user behavior. Banks, insurance companies, private equity firms and others use the ratings of more than 48,000 third parties to mitigate supply chain risks, underwrite cyber insurance, benchmark security performance, perform M&A due diligence and assess aggregate risk.

For more information on security ratings for third party risk management, please register at http://bit.ly/KY3PBitSight for our webcast on June 28^th 2016 at 11:00am EDT/4:00pm BST.

Notes to Editors

About Markit

Markit is a leading global provider of financial information services. We provide products that enhance transparency, reduce risk and improve operational efficiency. Our customers include banks, hedge funds, asset managers, central banks, regulators, auditors, fund administrators and insurance companies. Founded in 2003, we employ over 4,000 people in 11 countries. Markit shares are listed on Nasdaq under the symbol MRKT. For more information, please see www.markit.com. Markit® is a registered trademark of Markit Group Limited and/ or its affiliates.

About BitSight Technologies

BitSight Technologies is transforming how companies manage information security risk with objective, verifiable and actionable Security Ratings. Founded in 2011, the company's Security Rating Platform continuously analyzes vast amounts of external data on security issues and behaviors in order to help organizations manage third party risk, underwrite cyber insurance policies, benchmark performance, conduct M&A due diligence and assess aggregate risk. Seven of the top 10 cyber insurers, 56 Fortune 500 companies, and 3 of the top 5 investment banks rely on BitSight to manage cyber risks. For more information, please visit www.bitsighttech.com, read our blog, or follow @BitSight on Twitter.

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