Project Boat selects partners

Project Boat, the consortium of nine investment banks formed to provide pre-and post-trade data for compliance with the Markets in Financial Instruments Directive (Mifid), has selected BT Radianz and COLT as client connectivity and infrastructure hosting partners.

BT Radianz provides secure, reliable and scalable connectivity and hosting to the global financial services community, while COLT is a high quality communications service provider that uses its wholly owned network and 14 data centres.

The infrastructure solution was developed by Project Boat’s technology partner, Cinnober, and the selection of BT Radianz and COLT to host Project Boat’s technology will ensure the trade reporting and OTC pre-trade price transparency platform is available to a broad community of dealers, investment managers and data vendors around the world.

Project Boat will collect, validate, store, manage and distribute the requisite European equity quote and trade report data over a cost-effective, real-time platform to meet its contributors’ trade data reporting and OTC pre-trade price transparency requirements under Mifid.

The decision to dual-locate Project Boat’s data hosting in London will ensure the platform has low latency and is resilient, flexible and fully able to guarantee business continuity. The Project Boat application system will be hosted at the London data centres of BT Radianz and COLT, which are situated 15 kilometres apart, with databases synchronised between both sites. Contributors and distributors will be able to connect to the platform via either provider, or both of them.

BaselAlert.com