31 Oct 2020
Stock-Trading Problems Push European Investors to Call for Data Changes

Investors in Europe learned the hard way this month that key structural differences between some of the region’s main stock exchanges and their U.S. counterparts put them at a costly disadvantage when it comes to trading stocks.

The consolidated tape would save investors “billions of euros…provide better investment outcomes for investors [and] promote greater competition and resilience” among trading venues, said Niki Beattie, chief executive of Market Structure Partners and an independent, non executive chair at Aquis. Market Structure Partners, a U.K.-based consulting firm, in October published a report for the European Commission on the merits of establishing a consolidated tape. That followed a call in December from the European Securities and Markets Authority, the regional regulator, to establish a consolidated tape for stock quotes. …