Pre & post trade reporting

Markit introduces new BOAT fees and services

Data provider Markit will introduce a new pricing schedule for BOAT, its trade reporting and data service for over-the-counter European equities trades, from 1 May.

Under the new schedule, Markit will offer nine regional BOAT data packages for firms that do not require a full pan-European licence. Previously, only the pan-European data was available. Fees for the regional packages range from EUR 10 to EUR 40 on a per-user, per-month basis.

The nine regional licences are Austria, Eastern Europe, Euronext, Germany, Italy, Scandinavia, Spain, Switzerland and UK.

The firm has also introduced a new sliding scale discount for its pan-European BOAT data feed based on the number of registered users in the subscribing company. Discounts start from two users per firm and range from 25% to 50%.

“We have restructured our data packages to make the Markit BOAT data more easily available to a wider range of clients,” said Will Meldrum, managing director and head of equities data at Markit, in a statement.

Markit has also introduced new services that give users and end-of-day, aggregated view of trades reported on the BOAT platform. The firm said this will address the market’s needs for accurate historical trade data and correct measurement of off-exchange trading volumes.

“We recognise the importance of validated historical trade reports for fine tuning algorithms and this is the reason for the introduction of Markit BOAT’s end-of-day service,” said Sophia Kandylaki, director and product manager of Markit BOAT. “We expect the service will also appeal to risk managers who need official OTC volume data to use as an input into their liquidity tests.”