Mifid trade reporting platform to be offered for free


Mifid trade reporting platform to be offered for free

Antony Savvas

Markit Boat, the trade reporting platform developed to meet the requirements of the Markets 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.

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