SEC’s Redfearn: US-Style Consolidated Tapes Won’t Solve Trading Data Needs
As European market participants bemoan the lack of a consolidated tape, a senior SEC executive debunks the idea that a pan-European tape, similar to the US, will resolve issues around data access and costs.
A US-style consolidated tape is not the answer to the industry’s market data problems across the EU and beyond, according to a US regulatory executive.
Speaking at the TradeTech conference in Paris, Brett Redfearn, director of trading and markets at the US Securities and Exchange Commission (SEC), said there are two fundamental issues with the existing US consolidated tapes—latency and the lack of content available on the services.
The two US consolidated tapes—the Consolidated Tape
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