2014 Review: ESMA Weighs in on EU Consolidated Tape; Details TBC
After more than three years of negotiations, the European Union agreed in January on its review of the Markets in Financial Instruments Directive. This agreement mandates that trading venues must make pre- and post- trade data available on a “reasonable commercial basis” and prescribes the creation of a European consolidated tape of post-trade data.
In a consultation paper released in May, the European Securities and Markets Authority announced it may adopt one or a combination of options: First
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