Amsterdam, 28 March 2024
EuroCTP, the company set up by European exchanges for the provision of a consolidated tape in the European Union, has been incorporated and elected a chair of the supervisory board
Today is an important day for Europe and the development of a European financial market.
With the entry into force of the revised Markets in Financial Instruments Regulation (MiFIR), Europe is taking a big step towards the goals set by the Capital Markets Union (CMU).
The new rules will improve investor access to market data and support the competitiveness of European financial centers.
Although this milestone may appear technical at first glance, it is important for all of us.
Why is that?
Entry into force starts the clock on the design and implementation of the three consolidate tapes foreseen under MiFIR.
These will include one for bonds, one for equities and ETFs and one for derivatives. Each is due to go live progressively by 2026.
Why is the consolidated tape important?
There are currently hundreds of platforms where shares can be negotiated in Europe.
While this creates competition, it also leads to complexity for investors who cannot easily obtain an accurate view of the market for a given instrument.
The consolidated tapes will address these issues by gathering this information in one place and making it available to investors.
EuroCTP is committed to engaging with stakeholders to design a consolidated tape for equities and EFTs which suits investors’ needs, in full alignment with the EU’s broader objective of boosting the European economy.
About EuroCTP
EuroCTP B.V. is a Dutch company dedicated to providing robust and compliant real-time consolidated tape for shares and ETFs, servicing European investors. EuroCTP B.V. is committed to fostering transparency, fairness and access to market data among investors globally.