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BT Radianz is one of the leading providers of secure, reliable and scalable connectivity and hosting to the global financial services community. COLT is a leading European provider of high quality communications services to businesses using its wholly owned network and fourteen data centres. Both companies have proven ability to host world class financial systems, and to connect thousands of financial services customers.
The infrastructure solution was developed by BOAT’s technology partner, Cinnober, and the selection of BT Radianz and COLT to host 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. BOAT will collect, validate, store, manage and distribute the requisite European equity quote and trade report data over a costeffective, real-time platform to meet its contributors’ trade data reporting and OTC pre-trade price transparency requirements under MiFID (Markets in Financial Instruments Directive).
The decision to dual-locate BOAT’s data hosting in London will ensure the platform has low latency and is resilient, flexible and fully redundant to guarantee business continuity. The BOAT application system will be hosted at the London data centres of BT Radianz and COLT which are situated 14.5 kilometres apart with databases synchronised between both sites. Contributors and distributors will be able to connect to the platform via either provider, or both.
Duncan Paterson, Managing Partner of Cygnet Consulting, speaking on behalf of BOAT, commented: “BOAT is pleased to announce the appointment of BT Radianz and COLT as hosting partners. Both companies have excellent track records in hosting mission critical platforms, and the choice of two separate hosting centres will ensure BOAT has the highest quality of continuity.
This represents the achievement of another key milestone in the BOAT platform which now has all its major service provider partners in place. Contributors can be confident that we will have a robust and easily accessible solution for the pan-European market well ahead of the introduction of MiFID.”
Kevin Covington, EVP Product & Business Development, BT Radianz, said: “BOAT is a very important new service provider in the market, and its selection of BT Radianz highlights the benefits that our shared market infrastructure brings to address the largest financial services community with the shortest time-to-market. BOAT’s choice to host its service in our London data centre will provide the platform with the lowest-latency approach to delivering and receiving the
highest quality equities data in the European market.”
Terry Quigley, Head of Financial Services Sector at COLT, stated: “The contract with BOAT is testimony to our long track record as a communications partner to the securities, and wider financial market. It reflects not just COLT's heritage, but our key strength in guaranteeing SLAs and very low latency through the ownership and management of the underlying infrastructure.”
In January this year, BOAT announced the appointment of Markit Group Limited and Cinnober Financial Technology as business and technology partners respectively.
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