WIXLIB

The information in this prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission iseffective. This prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.SUBJECT TO COMPLETIONDated June 3, 2014PROSPECTUS45,707,965 Common SharesThis is an initial public offering of Markit Ltd. The selling shareholders, including certain employees andmembers of our management, are offering all of the common shares being offered under thisprospectus. We will not receive any proceeds from the sale of common shares in this offering.Prior to this offering, there has been no public market for our common shares. It is currently estimatedthat the initial public offering price will be between 23.00 and 25.00 per common share. We haveapplied to list the common shares on the Nasdaq Global Select Market under the symbol “MRKT.”We are an “emerging growth company” under the U.S. federal securities laws and will be subject toreduced public company reporting requirements.Investing in the common shares involves risks. See “Risk Factors” beginningon page 12 of this prospectus.Underwritingdiscounts andcommissions(1)Price to publicProceeds, beforeexpenses, to sellingshareholdersPer share Total (1) See “Underwriting (Conflicts of Interest)” for a description of all compensation payable to the underwriters.Certain selling shareholders have granted the underwriters an option for a period of 30 days topurchase up to an additional 6,856,195 common shares from such selling shareholders identified inthis prospectus on the same terms as set forth above to cover over-allotments, if any. See“Underwriting (Conflicts of Interest).”Neither the U.S. Securities and Exchange Commission nor any state securities commission hasapproved or disapproved of these securities or determined if this prospectus is truthful orcomplete. Any representation to the contrary is a criminal offense.Consent under the Exchange Control Act 1972 (and its related regulations) has been obtained from theBermuda Monetary Authority for the issue and transfer of the common shares to and betweenresidents and non-residents of Bermuda for exchange control purposes provided our common sharesremain listed on an appointed stock exchange, which includes the Nasdaq Global Select Market. Ingranting such consent, neither the Bermuda Monetary Authority nor the Registrar of Companies inBermuda accepts any responsibility for our financial soundness or the correctness of any of thestatements made or opinions expressed in this prospectus.The common shares will be ready for delivery on or aboutBofA Merrill LynchBarclaysDeutsche Bank SecuritiesJ.P. MorganBNP PARIBAS, 2014, 2014.CitigroupGoldman, Sachs & Co.Morgan StanleyJefferiesCredit SuisseRBC Capital MarketsHSBCUBS Investment BankRBSTD Securities

Financial information services

TABLE OF CONTENTSPagePresentation of Financial Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . iiMarket and Industry Data and Forecasts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . iiProspectus Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1Risk Factors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12Cautionary Statement Regarding Forward-Looking Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36Use of Proceeds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38Dividends and Dividend Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38Corporate Reorganization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39Capitalization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41Selected Consolidated Historical and Pro Forma Financial Information . . . . . . . . . . . . . . . . . . . . . . . . 42Management’s Discussion and Analysis of Financial Condition and Results of Operations . . . . . . . . 46Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84Principal and Selling Shareholders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97Related Party Transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108Common Shares Eligible for Future Sale . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112Description of Share Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 114Bermuda Company Considerations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121Taxation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127Underwriting (Conflicts of Interest) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 133Legal Matters . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 144Experts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 144Where You Can Find More Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 144Expenses of the Offering . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 145Enforcement of Judgments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 145Index to Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .F-1Unless otherwise indicated or the context otherwise requires, all references in this prospectus to“Markit” or the “company,” “we,” “our,” “ours,” “us” or similar terms refer to Markit Group HoldingsLimited and its subsidiaries prior to the completion of our corporate reorganization, and Markit Ltd. andits subsidiaries as of the completion of our corporate reorganization and thereafter. See “CorporateReorganization.”We and the selling shareholders have not authorized anyone to provide any information other than thatcontained in this prospectus or in any free writing prospectus prepared by or on behalf of us or to whichwe may have referred you. We and the selling shareholders take no responsibility for, and can provideno assurance as to the reliability of, any other information that others may give you. Neither we, theselling shareholders nor the underwriters are making an offer to sell the common shares in anyjurisdiction where the offer or sale is not permitted. This offering is being made in the United States andelsewhere solely on the basis of the information contained in this prospectus. You should assume thatthe information appearing in this prospectus is accurate only as of the date on the front cover of thisprospectus, regardless of the time of delivery of this prospectus or any sale of the common shares.Our business, financial condition, results of operations and prospects may have changed since thedate on the front cover of this prospectus.For investors outside the United States: neither we, the selling shareholders nor any of theunderwriters has done anything that would permit this offering or possession or distribution of thisi

prospectus or any free writing prospectus we may provide to you in connection with this offering in anyjurisdiction where action for that purpose is required, other than in the United States. You are requiredto inform yourselves about and to observe any restrictions relating to this offering and the distribution ofthis prospectus and any such free writing prospectus outside of the United States.Presentation of Financial InformationWe prepare and report our consolidated financial statements in accordance with International FinancialReporting Standards (“IFRS”) as issued by the International Accounting Standards Board (the “IASB”).None of our financial statements were prepared in accordance with generally accepted accountingprinciples in the United States. We maintain our books and records in U.S. dollars.We have historically conducted our business through Markit Group Holdings Limited and itssubsidiaries, and therefore our historical financial statements present the results of operations of MarkitGroup Holdings Limited. Prior to the closing of this offering, we will engage in a corporatereorganization described under “Corporate Reorganization” pursuant to which Markit Group HoldingsLimited will become a wholly-owned subsidiary of Markit Ltd., a newly formed holding company withnominal assets and liabilities, which will not have conducted any operations prior to this offering. MarkitLtd.’s financial statements will be the same as Markit Group Holdings Limited’s financial statementsprior to this offering, as adjusted for the corporate reorganization. Following the corporatereorganization and this offering, our financial statements will present the results of operations of MarkitLtd. and its consolidated subsidiaries.We have made rounding adjustments to some of the figures included in this prospectus. Accordingly,numerical figures shown as totals in some tables may not be an arithmetic aggregation of the figuresthat precede them.Unless otherwise indicated, all references to currency amounts in this prospectus are in U.S. dollars.Market and Industry Data and ForecastsCertain market data and industry data and forecasts used throughout this prospectus were obtainedfrom internal company surveys, market research, consultant surveys, reports of governmental andinternational agencies and industry publications and surveys. Industry publications and third-partyresearch, surveys and reports generally indicate that their information has been obtained from sourcesbelieved to be reliable. We believe the data from third-party sources to be reliable based upon ourmanagement’s knowledge of the industry, but have not independently verified such data. In somecases, we do not expressly refer to the sources from which this data is derived. In that regard, whenwe refer to one or more sources of this type of data in any paragraph, you should assume that otherdata of this type appearing in the same paragraph is derived from the same sources, unless otherwiseexpressly stated or the context otherwise requires. Our estimates involve risks and uncertainties andare subject to change based on various factors, including those discussed under the heading “RiskFactors” in this prospectus.ii