Bank consortium to build European equity trading platform

A consortium of nine investment banks has appointed a technology supplier and a company to handle contracts for a giant project to create a pan-European information sharing platform for equity trading.

A consortium of nine investment banks has appointed a technology supplier and a company to handle contracts for a giant project to create a pan-European information sharing platform for equity trading.

The banks’ Boat Project  has chosen Swedish supplier Cinnober to build the platform and Markit to do deals with brokers, fund managers, and market data suppliers that want to use the platform.

The platform has to go live by November this year in time for the European Union’s Markets in Financial Instruments Directive (Mifid), which will come into force in all 25 EU countries on 1 November.

The consortium expects that using a single platform to distribute its trading information across Europe will be a lot cheaper than distributing the information separately in each country.

The investment banks in the consortium are ABN Amro, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, Merrill Lynch, Morgan Stanley and UBS.

Euronext to switch trading platform as merger nears

 Comment on this article: computer.weekly@rbi.co.uk

CW+

Features

Enjoy the benefits of CW+ membership, learn more and join.

Read more on IT legislation and regulation

Start the conversation

Send me notifications when other members comment.

By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

Please create a username to comment.

-ADS BY GOOGLE

SearchCIO

SearchSecurity

SearchNetworking

SearchDataCenter

SearchDataManagement

Close