BOAT, a consortium of nine banks launched in September to address regulatory changes in the financial markets with respect to pre- and post-trade market data provisions, has won Inside Market Data’s award for the “Most Innovative Market Data Project.”
“We are very pleased that the considerable effort that has gone into setting up the BOAT platform has been recognised and we look forward to providing the marketplace with a transparent and efficient trade reporting solution,” said Will Meldrum, managing director at Markit Group Limited, which acts as business partner to BOAT.
BOAT will provide data reporting facilities as required by the European Markets in Financial Instruments Directive (MiFID). Under the MiFID rules, all Over-The-Counter (OTC) equity transactions in the European Economic Area must be reported and published to the market.