Markit acquires JP Morgan's FCS

London-based Markit and investment bank JP Morgan have agreed to terms under which Markit will acquire JP Morgan FCS, a provider of portfolio and risk management software and services to the syndicated loan market. According to Markit, the combination of FCS and Markit brings together complementary data and software services; the new entity will provide independent loan market data and software to a sector currently used by over 400 financial institutions to manage over $1 trillion in assets