"Boat" Banks to Name Vendor

LONDON-"Project Boat"-a consortium of nine banks that is creating an off-exchange trade reporting facility-is close to naming the vendor that will provide the underlying technology for the planned OTC trade data platform, according to sources familiar with the situation.

The unnamed vendor is "way out in front" in the race to win the contract for the platform, as a result of its scalability and low cost, one source says.

However, selecting a provider is only the first step in the project. The

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