Liquidnet Europe Selects Markit BOAT
London – Markit, a leading provider of independent data, portfolio valuations and OTC derivatives trade processing, today announced that Liquidnet Europe Limited (“Liquidnet Europe”), one of Europe’s largest ‘dark pools’ of liquidity and TradeTech European Award winner for Best Overall Execution Venue, has chosen Markit BOAT as its preferred trade reporting platform. Liquidnet Europe is the third Multilateral Trading Facility (MTF) to join Markit BOAT since its launch on 1 November 2007.
Under MiFID, MTFs are required to report all trades that take place on their platforms. Liquidnet Europe will use Markit BOAT to report all the trades in European equities it executes from 5 May this year.
Will Meldrum, Managing Director and Head of Markit BOAT at Markit, said: “Liquidnet is a major player in the European OTC equity markets and we are delighted that they have joined the Markit BOAT platform. This will further consolidate our position as the leading trade reporting venue for the OTC equity markets.”
John Barker, Managing Director at Liquidnet Europe, said: “Markit BOAT has a robust technology infrastructure and an attractive commercial model, which are key attributes we look for in any of our business relationships. Just like Liquidnet, Markit BOAT was built to bring a cheaper and more efficient service to the industry. It therefore made sense from both an operational and business perspective to use Markit BOAT’s trade reporting service.”
Liquidnet Europe is a buy-side only crossing network that provides its members with access to 21 European equity markets, as well as LSE-listed GDRs (Reg-S). Last year, principal volumes on Liquidnet Europe increased by over 100 percent for the fourth consecutive year and the company reported a strong fourth quarter with principal volumes totalling £12.1 billion, up 174 percent from the same period in 2006.
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For more information please contact:
Caroline Lumley
Vice President, Corporate Communications
Markit
Tel: +44 20 7260 2047
Email: caroline.lumley@markit.com
Jim Gorman
Marketing & Communications
Liquidnet
Tel: +1 646 674-2145
Email: jgorman@liquidnet.com
About Markit
Markit is the leading provider of independent data, portfolio valuations and OTC derivatives trade processing to the global financial markets. The company receives daily data contributions from 90 dealing firms, and its services are used by almost 1,000 institutions to enhance trading operations, reduce risk and manage compliance.
About Liquidnet Europe
Liquidnet is one of Europe’s - and the world’s - largest independent dark pools of liquidity. Launched in 2001, Liquidnet now offers its buy-side-only Members the ability to trade in 29 global equity markets, plus GDRs (Reg-S, LSE-listed) that provide access to an additional 26 markets. Liquidnet is headquartered in New York with offices in London, Toronto, Tokyo, Hong Kong, and Sydney. Since its inception, Liquidnet’s main objective has been to bring the buy-side as much liquidity as possible, whilst providing the most secure and efficient environment in which to trade.
For more information, see www.liquidnet.com