Markit Group acquires NTC

Markit Group, which provides independent data, portfolio valuations and OTC derivatives trade processing, bought NTC Economics, owner of the Purchasing Manager’s Index series. Terms of the deal between the London-based firms were not disclosed. Markit has not determined whether it will retain the NTC Economics brand, a Markit spokeswoman said. The PMI series is used by 1,000 organizations, including central banks, to help decide economic, interest rate and foreign exchange policy.