EuroCTP
- Athens Stock Exchange
- Bucharest Stock Exchange
- Budapest Stock Exchange
- Bulgarian Stock Exchange
- Deutsche Boerse
- Euronext
- Ljubljana Stock Exchange
- Luxembourg Stock Exchange
- Malta Stock Exchange
- Nasdaq Nordic
- SIX
- Warsaw Stock Exchange
- Vienna Stock Exchange
EuroCTP (European Consolidated Tape Provider) B.V.[3] is a joint venture of 14 bourses,[4][5] intending to tender for the provision of a consolidated tape (CT) for financial trading within the European Union (EU). The selection process, arranged by the European Securities and Markets Authority (ESMA), is scheduled to be finalised in 2025.[6] This forms part of the European Commission's Capital Markets Union.[7]
For comparison, a similar electronic service, the Consolidated Tape System, has been in place in the United States since 1976. Following Brexit, the United Kingdom's Financial Conduct Authority (FCA) has tabled a CT reform similar to the EU's.[8]
History
Background
Bourses had initially signaled reluctance towards the Commission's CT plans.[9]
2023-present: Inception
On 16 February 2023, EuroCTP was announced.[10]
On 23 August 2023, EuroCTP was incorporated, and the chair of its supervisory board, Jorge Yzaguirre Scharfhausen, was announced.[6]
On 5 December 2023, the leadership of EuroCTP was announced.[2]
ESMA tender competitors include:
- Jointly: Bloomberg, MarketAxess and Tradeweb.[11] They pulled out of the competition in December 2023.[12]
- Jointly: Barclays, Credit Agricole, Societe Generale, UniCredit and BlackRock[13]
Organisation
Management
- Eglantine Desautel (CEO)[2]
- Timo Pentner (CTO)
Supervisory board
The shareholders are represented in the supervisory board of EuroCTP by:[15]
- Frank Hoba (Deutsche Boerse)
- Emilie Rieupeyroux (Euronext)
- Nikolaj Kosakewitsch (Nasdaq)
- Jorge Yzaguirre Scharfhausen (SIX)
- Matthias Szabo (Vienna Stock Exchange)
- Manyu Moravenov (Bulgarian Stock Exchange)
Founding bourses
EuroCTP is a joint venture of the following 14 bourses, which operate regulated markets in 26 out of 27 member states (all except for Slovakia)[16] of the European Union (EU), as well as European Free Trade Association (EFTA) members Switzerland, Norway and Iceland (the two latter of which form part of the European Economic Area):[4]
- Athens Stock Exchange
- Bucharest Stock Exchange
- Budapest Stock Exchange
- Bulgarian Stock Exchange
- Deutsche Boerse
- Euronext
- Ljubljana Stock Exchange
- Luxembourg Stock Exchange
- Malta Stock Exchange
- Nasdaq Nordic
- SIX
- Warsaw Stock Exchange
- Vienna Stock Exchange
See also
- Economy of the European Union
- European Securities and Markets Authority
- European Supervisory Authorities
- European Banking Authority
- List of European stock exchanges
- Banking Union
- MiFid II
- Capital Markets Union
- European Insurance and Occupational Pensions Authority
- Consolidated Tape System
- Securities Information Processor
- Market data
- National market system plan
- Ticker tape
References
- ^ "Editorial information • EuroCTP". EuroCTP. Retrieved 19 January 2024.
- ^ a b c "Former Euronext market services and digital head appointed to head up EuroCTP efforts - The TRADE". www.thetradenews.com. Retrieved 19 January 2024.
- ^ "Consolidated Tape Providers". www.esma.europa.eu. Retrieved 19 January 2024.
- ^ a b "European exchanges launch JV for CTP tender - The TRADE". www.thetradenews.com. Retrieved 19 January 2024.
- ^ Chan, Jeremy. "Deutsche Börse, Euronext, SIX back new bid to run EU's sole source of trading data". www.fnlondon.com. Retrieved 19 January 2024.
- ^ a b Jones, Huw (12 September 2023). "European bourses want to offer pan-EU share price feed to investors". Reuters.
- ^ "EU and UK regulators reveal updated plans for bond tape frameworks - The TRADE". www.thetradenews.com. Retrieved 19 January 2024.
- ^ Conchie, Charlie (5 July 2023). "FCA rips up trading tape in post-Brexit rules overhaul". CityAM. Retrieved 19 January 2024.
- ^ "EU faces last-ditch challenge from exchanges over trading reforms". www.ft.com. Retrieved 19 January 2024.
- ^ "Deutsche Börse Group - European exchanges collaborate for the provision of a consolidated tape in the European Union". www.deutsche-boerse.com. Retrieved 19 January 2024.
- ^ "Bloomberg, MarketAxess and Tradeweb Explore EU Consolidated Tape for Fixed Income | Press | Bloomberg LP". Retrieved 19 January 2024 – via www.bloomberg.com.
- ^ https://www.securitiesfinancetimes.com/securitieslendingnews/industryarticle.php?article_id=226717&navigationaction=industrynews/
- ^ "This Week: Competition ramps up for EU equities tape, Tradeweb-Euroclear-IGM partnership, Nasdaq, and more - WatersTechnology.com". www.waterstechnology.com. 14 April 2023. Retrieved 19 January 2024.
- ^ "Major buy- and sell-side institutions propose own user-governed consolidated tape for equities - The TRADE". www.thetradenews.com. Retrieved 19 January 2024.
- ^ "Supervisory Board • EuroCTP". EuroCTP. Retrieved 19 January 2024.
- ^ "EU CTP by European exchanges • EuroCTP". EuroCTP. Retrieved 19 January 2024.
External links
- Official website
- Consolidated tape, European Commission
- v
- t
- e
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- EuroCTP
