Banks to build pan-European share system


Banks to build pan-European share system

Will Hadfield

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

Cinnober will build the platform for the Boat Project and Markit will liaise 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 EU countries on 1 November.

Related article: FSA signs Mifid policing contract


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