Markit will provide OTC trade reporting for the SIX Swiss Exchange as its first approved trade data monitor (TDM).
The agreement enables foreign participants (remote members) of SIX Swiss Exchange to report their off-exchange (OTC) trades in Swiss securities admitted for trading on a Swiss stock exchange via Markits BOAT platform. The platform was implemented April 18.
The service allows remote members to fulfill reporting obligations in Swiss securities either via the exchange or via Markit. Previously they had to report their OTC trades in Swiss securities admitted for trading on a Swiss stock exchange to the reporting office of SIX Swiss Exchange.
SIX Swiss Exchange is one of the worlds most technologically advanced exchanges, and we are delighted to welcome their remote members on to the Markit BOAT platform, says Sophia Kandylaki, director and head of Markit BOAT at Markit. This will enrich Markits dataset considerably and consolidate our position as the leading trade reporting venue for the OTC equity markets.
This is the second key product implementation for a Markit product in the past week. On April 14, MarkitSERV, a trade source and middleware provider that is jointly owned by Markit and DTCC, won a mandate to service OTC equity derivatives trades cleared on the OCC.