Boat Inches Closer to Launch with Addition of Cinnober and Markit

LONDON-Project Boat, the European trade data utility being readied by a consortium of nine banks to reduce the cost of OTC trade reporting under the Markets in Financial Instruments Directive, has moved a step closer with the announcement of Cinnober and Markit as its technology vendor and service provider, respectively.

Swedish trading platform vendor Cinnober will provide the technology systems to store, aggregate and distribute trades, based on its TradExpress Java-based transaction proces