Bank of America Merrill Lynch is set to be the biggest winner from the IPO of Markit, while the largest individual shareholder is potentially in line for a $8.75 million pay day if the financial data provider prices at the top of its range.

A group of investment banks, hedge funds and individuals are set to collectively earn more than $1.3 billion from Markit's initial public offering, according to new filings with the Securities and Exchange Commission yesterday.