Industry Remains Divided Over Case for EU Consolidated Tape

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Christian Katz, CEO, SIX Swiss Exchange

The upcoming review of the European Commission's Markets in Financial Instruments Directive has market participants divided over whether the proposals should contain provisions for a consolidated tape of pan-European market data.

Market fragmentation caused by the introduction of MiFID has resulted in firms being forced to collect data from multiple trading venues to obtain a full view of trading in that stock-when trading in a stock has fragmented to the extent that significant portions of liqu