Banks Go Public with Data Utility

FRONT PAGE: DELIVERY TECHNOLOGIES

Nine global securities firms have announced plans to create a trade data and market data dissemination platform to take advantage of the European Union’s Markets in Financial Instruments Directive.

Last week, ABN Amro, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, Merrill Lynch, Morgan Stanley and UBS signed a letter of intent and term sheet to gather trade transparency information from across Europe.

The utility will allow banks to comply with the new regulations set by MiFID

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