NYSE Tech, Markit to Combine Data on OTC Equities in Europe

NYSE Technologies and Markit Group said Thursday they will consolidate their pools of data on trading in over-the-counter stocks in Europe.

NYSE Technologies, the commercial technology unit of NYSE Euronext, said it will take data from Markit BOAT, the largest trade reporting venue in Europe, and integrate it into its market data products.

NYSE Technologies and Markit, a financial information services firm, estimated this will give provide access to trade reports roughly 30 billion euros worth of OTC trades in equities every day. This amounts to about 80 percent of daily volume, they also estimated.

The initiative is open to other publication venues in Europe, the partners said, in an effort to create what they called "the most comprehensive dataset on the European OTC equity markets from a single source.'

“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,” said Mark Schaedel, senior vice president, global data products, NYSE Technologies.

“Data consolidation within the European equity markets can be made possible if all publication venues work together to harmonise their datasets,” said Markit EVP Niall Cameron.

The NYSE-Markit service will include data feeds, web, hosted and managed services and historical products.