30/5/2022 | Press Release

AFME, BVI, Cboe Europe and EFAMA Agree Cross-Industry Consensus on EU Equity Consolidated Tape

AFME, BVI, Cboe Europe and EFAMA have today jointly published a position paper which provides a set of key principles needed to ensure the successful creation of an EU Equity Consolidated Tape (CT).  

These 11 principles would help ensure a CT is commercially viable and appropriately constructed to deliver the most benefit to European issuers, investors, exchanges and other intermediaries.

These organisations believe a successful equities CT will democratise access to equities data, contributing to the creation of a truly pan-European market in line with the goals of the European Commission’s Capital Markets Union project. An appropriately constructed CT would substantially increase the number of market data users with access to pan-EU data, increase the visibility of issuers listed in every EU market and drive the growth of the region’s capital markets.

While the group supports many aspects of the European Commission’s blueprint for a CT across European markets, as set out as part of its Markets in Financial Instruments Regulation (MiFIR) review in 2021, AFME, BVI, Cboe Europe and EFAMA believe the EU needs to be more ambitious with its proposals to realise the full benefits of this crucial initiative.

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Statement of Principles (pdf)

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