BVI calls for extension of trilogue negotiations on MiFIR reform

Together with EFAMA and the sell-side association AFME, we have called upon the EU negotiating partners on the MiFIR reform to extend the talks under the Spanish EU Council Presidency from 1 July 2023 (see press release) to come to a meaningful compromise on the consolidated tape (CT). The Swedish EU Council Presidency would like to see a CT only with post-trade data and continuous indication of the "European Best Bid and Offer" (EBBO), but without indication of the relevant market. We continue to call for a real-time equity and ETF CT, with pre-trade data and full attribution of trading venues and volume. Furthermore, we call for a pricing of the market data on a reasonable commercial basis.