Is it Plain Sailing for Project Boat?

A report in yesterday's Online Financial News suggests all may not be plain sailing for Project Boat, a pan-European utility that promotes itself as benefiting all participants actively involved in European capital markets. The article points out that consortiums of investment banks have a poor delivery record, where key members may fail to agree on key points of development. The journalist says some banks have confirmed privately there was disagreement about fees proposed by the consortium.

As well as the issue of fees, there is speculation about what will happen with Boat after its November launch. Some of its banks have said it should be spun off into Markit and turned it into a for-profit feed after it goes live.

Earlier this year, FTMandate, interviewed industry veterans who discussed the viability of Project Boat and the implications for pricing and availability of data.

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