New York, July 1, 2010- NYSE Technologies™, the commercial technology unit of NYSE Euronext and Markit, a leading, global financial information services company, today announced the launch of a joint initiative designed to consolidate data and enhance transparency in the European over the counter (OTC) equity markets.
NYSE Euronext® and Markit in Joint Initiative to Enhance Post-MiFID Market Transparency
As part of this initiative, NYSE Technologies will integrate data from Markit BOAT, the largest trade reporting venue in Europe, within its own range of market data products. This will give joint users access to trade reports on an average of roughly EUR 30 billion of OTC trades in equities every day which is equivalent to approximately 80% of the daily volumes traded on all European equity markets through April 2010.
The initiative is open to other publication venues in Europe in order to give market participants access to the most comprehensive dataset on the European OTC equity markets from a single source.
“By working with Markit, we will offer our diverse client base and vendor community a consolidated OTC trade data product that provides enhanced levels of transparency, broad market coverage and simplifies data distribution,” said Mark Schaedel, Senior Vice President, Global Data Products, NYSE Technologies. “We are very excited to be working toward a seamless, market-wide OTC data solution with Markit that improves the quality of market data across Europe ’s cash equity markets.”
“Data consolidation within the European equity markets can be made possible if all publication venues work together to harmonise their datasets. It is in that spirit that we are launching this initiative with NYSE Euronext,” said Niall Cameron, Executive Vice President, Markit. “This is a wide-ranging and ambitious project that we hope will attract a number of other publication venues across Europe .”
The new service will include deployed data feeds, hosted and managed solutions, web services and historical products. NYSE Technologies will also integrate data from Markit BOAT and other data providers into packaged solutions which provide customers with a single view of activity across all major European cash equity markets.
NYSE Euronext customers, including investors connecting directly and data vendors, can access OTC feeds from Markit, NYSE Euronext or both post trade products in a consolidated format via NYSE Technologies’ Secure Financial Transaction InfrastructureTM (SFTI) network. The feeds will also be available in NYSE Euronext’s data centres and via a low cost, easy access NYSE Technologies web services platform to be launched later this year. Both parties remain committed to working with CESR, the European Commission and their respective data contributors and consumers to ensure that these offers support all future MiFID requirements.
For more information about this initiative and product suite, please visit: www.nysedata.com/OTC-Europe or www.markit.com/boat
About NYSE Technologies
A division of NYSE Euronext (NYX), NYSE Technologies is a leader in providing innovative software, market data products and data management applications, connectivity solutions, exchange technology, and transaction solutions for trading firms, vendors and financial markets around the world. NYSE Technologies offers one of the most comprehensive suites of high quality commercial technology products that includes advanced messaging platforms, co-location services, ultra-low latency order routing and a one-of-a-kind hosted network community, all designed to enable the free flow of liquidity for the global marketplace. This division operates four units: the Global Connectivity unit, offering one of the world's largest, most reliable financial transaction networks connecting firms and exchanges worldwide; the Trading Solutions unit, which creates and implements high performance, end-to-end messaging software and real-time market data distribution and integration products; the Exchange Solutions unit, which provides multi-asset exchange platform services, managed services and expert consultancy; and the Global Market Data unit, which offers a broad array of global market information products covering multiple asset classes. With offices across the U.S. , Europe and Asia , NYSE Technologies' advanced integrated solutions for a wide range of services has earned the ability to power the trading operations of global financial institutions and exchanges. For additional information visit: http://www.nyse.com/technologies
Markit is a leading, global financial information services company with over 1,500 employees. The company provides independent data, valuations and trade processing across all asset classes in order to enhance transparency, reduce risk and improve operational efficiency. Its client base includes the most significant institutional participants in the financial marketplace. For more information, see www.markit.com
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext’s plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext’s results to differ materially from current expectations include, but are not limited to: NYSE Euronext’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext’s reference document for 2008 (“document de référence”) filed with the French Autorité des Marchés Financiers (Registered on April 28, 2009 under No. R. 09-031), 2009 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.
Contact: Caroline Lumley - Markit
Phone: +44 20 7260 2047
Contact: Eric Ryan - NYSE Euronext