As Exchanges Cut Fees, Can Boat Make Serious Waves?

Project Boat, the trade reporting utility set up by nine tier-one investment banks, sent a signal to the market last week that the venture is more than a bargaining chip to negotiate lower exchange fees for post-trade reporting of OTC executions, by naming Cinnober and Markit as technology and business partners, respectively.

Swedish exchange software vendor Cinnober will provide the technology, while UK-based data vendor Markit will provide commercial support.

Boat's initial premise is that t

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