Industry Still at Odds Over Use Case for an EU Consolidated Tape
Market participants say they want a high-quality, centralized source of market data for EU equities. But who and what is it actually for?
Years after regulators began thinking about a consolidated tape—an aggregated source of market data that could bring deeper and more transparent capital markets to Europe—no provider has materialized. Almost everything about the tape is a matter of contention for some with vested interest, from its revenue model to its content, and the matter of what it’s actually going to be used for is no different.
Some market observers say one way to sidestep the issue of market data costs—long cited as a
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