Markit Boat, the trade reporting
platform developed to meet the requirements of theMarkets in Financial Instruments Directive
(Mifid), will initially be offered for
free.
As part of a marketing initiative to promote the platform,
Boat's real-time dataset will be offered free of charge to
potential and existing users until 1 January 2008.
In addition, Boat will provide a delayed data feed free of
charge from 1 January.
More tailored, second-generation products based on the core Boat
dataset will be added as Mifid unfolds and in direct response to
client needs, said Boat provider
Markit.
Will Meldrum, managing director and head of Boat at Markit,
said, "Boat will allow market participants to gain a comprehensive
view of the pan-European OTC equity markets for the first time.
"As this dataset is a completely new proposition, we think it is
important to offer it to potential and existing clients free of
charge for a limited period. This will give end-users the
opportunity to use the data and fully assess its value before it
becomes a fee-paying service."
A timescale for when Boat will be charged for has not been
confirmed.
Boat, which is supported by a
consortium of nine investment banks, was launched in September
2006.