European exchanges collaborate for the provision of a consolidated tape in the European Union
Fourteen European exchange groups, present in twenty-six* Member States of the EU, announced a joint initiative to participate in the future selection process for the provision of a consolidated tape (CT) for equities in the European Union. The project responds to the European Commission’s proposal for an equities tape to contribute to the development of the Capital Markets Union.
The participating exchanges - cornerstones of financial markets across Europe with decades of experience in operating critical market infrastructure - have signed a term sheet to establish a joint venture that will evaluate and prepare an application as a CT provider in a future selection process.
The participants are recognised specialists in supplying reliable and high-quality market data and are well- positioned to deliver a CT quickly, efficiently, and to the highest operational standards.
The project will focus on providing a tape designed to provide a comprehensive, standardised and consistent source of market data and will seek to collaborate with regulators to develop the optimal solution for investors.
Through this joint venture, the participating exchanges, as key players in the EU’s capital markets ecosystem, are reiterating their commitment to fostering the EU’s open strategic autonomy.
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