07 Oct 2020
EU should mandate single provider for consolidated tape – MSP study

“A study undertaken on behalf of the European Commission recommends the creation of a single EU consolidated tape provider for financial market data….

The study, conducted by Market Structure Partners, contends that a consolidated tape that could save end investors billions of euros can be built for as little as €11 million with annual running costs of between €7-€9 million.

Set up and running costs could be funded by a fee levied on trading venues and systematic internalisers.

Niki Beattie, CEO off MSP, says: “It’s scary to hear the stories of so many market participants struggling without good data. Asset managers who manage trillions of euros of assets on behalf of investors say they have sub-optimal data with which to do their jobs, risk managers of even the largest firms speak of the difficulty of monitoring the markets without consolidated data and regulators struggle to compile data sets to undertake basic regulatory calculations and perform the required oversight.” …”