26 September 2016
Visit colt.net

Top banks sign for Boat trade reporting platform

07 June 2007  |  12361 views  |  0 mifid

Barclays Capital, BNP Paribas, Dresdner Kleinwort, JPMorgan and Royal Bank of Scotland have signed up to use the Boat European trade reporting platform to meet the pre and post trade reporting requirements of MiFID.

The Boat platform is being established by ABN Amro, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, Merrill Lynch, Morgan Stanley and UBS for the collection and sale of trading data following the introduction of EU's Markets in Financial Instruments Directive (MiFID) in November.

The system - which will collect, validate, store, manage and distribute European equity quote and trade report data - will by-pass those operated by the LSE and other European exchanges.

Barclays Capital, BNP Paribas, Dresdner Kleinwort, JPMorgan and RBS are the first to sign up to use the platform for pre and post-trade reporting.

Commenting on the move, Guillaume Lemarchand, co-head of global execution services at BNP Paribas, says: "While MiFID is universally seen as a positive initiative by banks that have a strong focus on execution, compliance with reporting requirements commands heavy investment, especially in terms of data.

"By teaming up with the consortium, we will minimise costs and be able to invest more in tailored client-specific products and services."

Markit and Cinnober have been selected to supply the technology that will underpin the Boat system, while BT Radianz and Colt will provide connectivity and infrastructure hosting services for the service.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Firms falling behind on MiFID

Firms falling behind on MiFID

25 April 2007  |  6082 views  |  0 comments
Two in three European banks set to miss MiFID deadline - survey

Two in three European banks set to miss MiFID deadline - survey

16 March 2007  |  11362 views  |  0 comments
LSE begins MiFID market consultation

LSE begins MiFID market consultation

13 February 2007  |  8190 views  |  0 comments
Investment bank consortia sift through technology options

Investment bank consortia sift through technology options

22 January 2007  |  12989 views  |  0 comments
City banks to challenge LSE with rival trade reporting system

City banks to challenge LSE with rival trade reporting system

15 August 2006  |  10620 views  |  0 comments

Related company news

 

Related company information

JPMorgan Chase

Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euVisit capgemini.comFind out more

Who is commenting?

Top topics

Most viewed Most shared
RBS tests demonstrate ability of Ethereum to support a national domestic payments systemRBS tests demonstrate ability of Ethereum...
13300 views comments | 51 tweets | 46 linkedin
Banks test blockchain for reference data managementBanks test blockchain for reference data m...
8546 views comments | 16 tweets | 27 linkedin
Swift beware: Ripple signs banks to global payments steering groupSwift beware: Ripple signs banks to global...
8285 views comments | 32 tweets | 17 linkedin
FCA to kickstart sandbox with 24 applicantsFCA to kickstart sandbox with 24 applicant...
6920 views comments | 33 tweets | 15 linkedin
Time has come to extract value from blockchain investment – new Finextra paperTime has come to extract value from blockc...
6892 views comments | 22 tweets | 16 linkedin

Featured job

Find your next job