Update: ‘Commitment Issues’ Doom COBA Project

Mark Hemsley, chief executive, BATS Chi-X Europe

A lack of commitment from European stock exchanges and trading venues to the COBA Project—an independent organization dedicated to the development of a consolidated tape of pan-European market data—led to one of the scheme’s advocates withdrawing its support, causing COBA’s founders to disband the project, Inside Market Data has learned.

Sources close to the situation say that BATS Chi-X Europe, Markit Boat and NYSE Euronext had committed to support the project, and were about to embark on a pil

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