Top banks get the BOAT to MiFID compliance
Barclays Capital, BNP Paribas, Dresdner Kleinwort, JPMorgan and Royal Bank of Scotland have selected the BOAT platform for meeting MiFID pre- and post-trade reporting obligations.
Barclays Capital, BNP Paribas, Dresdner Kleinwort, JPMorgan and Royal Bank of Scotland have selected the 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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