HSBC ends 5-year collaboration with Markit

Hong Kong

HSBC has ended its marketing tie-up with financial information firm Markit Ltd, both companies told Reuters on Friday, winding up a five-year relationship.

The two firms said that HSBC had ended its sponsorship of the closely watched China Purchasing Managers Index (PMI) and other emerging markets indexes compiled by Markit. Both described the cooperation as a success, and neither gave a specific reason for ending the arrangement. "The sponsorship arrangement is now coming to an end and we will announce replacement sponsors soon," said Laura Davis, a Singapore-based spokeswoman for Markit, in an e-mailed statement. Several banking sources said that Markit had been seeking other sponsors around Asia to replace HSBC, but some said that the price tag may be too high.