Markit, a financial information services provider, today announced the introduction of a new pricing schedule for its Markit Boat Data service.
Markit BOAT provides a comprehensive view of the European over-the-counter (OTC) equity markets. The service gives users access to trade reports on an average of EUR20 billion of OTC trades in equities every day. This is equivalent to approximately 25% of the daily volumes traded on all European equity markets.
Will Meldrum, Managing Director and Head of Equities Data at Markit, said: "Markit BOAT's dataset is vital for market participants to gain a comprehensive view of the pan-European OTC equity markets. We have restructured our data packages to make the Markit BOAT data more easily available to a wider range of clients."
The new schedule includes nine regional data packages designed for those users who do not require a full pan-European licence, the only licence available for Markit BOAT Data prior to today's announcement. These new packages will become commercially available on 1 May 2009 in order to allow the market data vendors that redistribute Markit BOAT Data to implement the necessary changes.
The new pricing schedule will also include the introduction of a reduced scaling fee for Markit BOAT's pan-European data licence based on the number of registered users within a company.
Markit BOAT has also introduced new services that give users an end-of-day aggregated view of validated trades reported on the Markit BOAT platform. The new end-of-day files will address the market's needs for accurate historical trade data and correct measurement of trading volumes off-exchange.
Sophia Kandylaki, Director and Product Manager of Markit BOAT, said: "We recognise the importance of validated historical trade reports for fine tuning algorithms and this is the reason for the introduction of Markit BOAT's end-of-day service. We expect the service will also appeal to risk managers who need official OTC volume data to use as an input into their liquidity tests."
1] The nine Regional Display Data Licences include: Austriatria, Eastern Europe, Euronext, Germany, Italy, Scandinavia, Spain, Switzerland and UK.