The UK watchdog today confirmed its decision to go with a single CT model chosen by tender process; while the European Parliament has finally come down in favour of the Mifir/Mifid II amendments suggested by MEP Danuta Hubner last year. Could a consolidated tape finally be on the cards?
UK watchdog report finds that some markets are concentrated among just a few firms, leaving little choice for institutions, while the data selling process is too complex.
The funds association thinks the move will improve best execution, but warns that “the devil will be in the detail”.
CEO of Ediphy, Chris Murphy, tells The TRADE where he sees credit developing in 2023, why he still has concerns around the consolidate tape, and just when we might finally see a CT in Europe.
The head of the securities markets unit at the European Commission has strongly urged for a reduction in deferral times to make the tape commercially viable, while also discussing the possible inclusion of pre-trade data.
Experts speaking on consolidated tape at the Fixed Income Leaders Summit in Nice this week warned that a tape is likely to throw up data quality issues that will need resolving.
Several documents published by the UK government outlined major plans, including details on the sweeping changes to MiFID II requirements.
Ahead of TradeTech, global head of trading at Schroders, Gregg Dalley, tells The TRADE about the impact of market structure changes on liquidity since Brexit, and provides his thoughts on other hot topics such as SPACs and the consolidated tape.
EFAMA and EFSA have said a consolidated tape would not help with issues relating to market data costs as they back recent study from Market Structure Partners.
A study from Market Structure Partners carried out for the European Commission has recommended the EU moves forward with plans to form a consolidated tape.