Barclays Capital,BNP Paribas,Dresdner Kleinwort,JPMorganandRoyal Bank of Scotlandhave
selectedthe BOAT platform for meeting the
Markets in Financial Instruments Directive (MiFID) pre- and
post-trade reporting obligations.
BOAT
was formed by a consortium of banks to help address regulatory
changes in the financial markets covering pre- and post-trade
market data provision.
The European Union MiFID directive comes into force this
November, and seeks to create a standardised pan-European financial
services market.
Will Meldrum, head of BOAT, said, “We are delighted that these
key customers have chosen to use the BOAT platform. This will aid
transparency and operational efficiency in the over-the-counter
equity markets.”
Guillaume Lemarchand, co-head of global execution services at
BNP Paribas, said, “By teaming up with the consortium, we will
minimise costs and be able to invest more in tailored
client-specific products and services.”
BOAT is open to all market participants.
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