Mark-it Partners, the London-based pricing service for credit derivative and cash credit instruments, has secured its first asset management client.

Cheyne Capital Management, the global credit hedge fund that has more than $8bn (€6.9bn) of credit default swaps under management, has signed a three-year contract to use Mark-it's credit derivative swap data. The deal allows Cheyne to integrate Mark-it's data into its systems to verify daily credit portfolio valuations.