News alert
Markit and Cinnober have recently provided Markit BOAT’s clients with release 1.1 of the service. Markit BOAT™, a MiFID-compliant trade reporting platform, was launched on 1 November 2007 and already accounts for reporting approximately a fourth of all European OTC trades in equities.
Release 1.1 includes substantial enhancements to the trade reporting functionality as well as extended lists and report outputs for the Markit BOAT™ system.
“It is always a pleasure for us to help our customers exploit their potential and become even more successful”, says Jan Arpi, partner and CEO of Cinnober Financial Technology AB. “Release 1.1 was well received and Markit continues to develop its offering. Our product provides Markit BOAT™ with a technical solution designed to meet the challenges of change that their clients are facing.”
Markit BOAT™ enables investment firms to meet their pre-trade quoting and post-trade reporting obligations for all their European OTC trades in equities. The platform collects, collates, validates and stores OTC trade data and publishes it to the market in real-time.
With 24 of the world’s leading financial institutions using the platform to report their OTC trades in equities, Markit BOAT™ offers an unparalleled view of the European OTC equity markets. Prior to MiFID and the launch of the platform, OTC trade information in certain countries was not readily available, making it difficult for market participants to understand fully how the OTC markets were moving.
The Markit BOAT™ platform, provided by Cinnober, was previously owned by a consortium of nine investment banks before its acquisition by Markit, a leading provider of independent data, portfolio valuations and OTC derivatives trade processing, in January 2008.
For further info; please visit Markit BOAT’s website