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EuroCTP

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EuroCTP B.V.
Company typeBesloten vennootschap
IndustryFinancial services
Founded23 August 2023; 14 months ago (2023-08-23)
HeadquartersBeursplein 5
Amsterdam, Netherlands
Key people
Eglantine Desautel (CEO)[2]
Timo Pentner (CTO)
ProductsConsolidated tape (CT) for the European Union (prospective)
Owners
Websitewww.euroctp.eu Edit this at Wikidata

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

Further information: Capital Markets Union

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:

[14]

Organisation

Management

Supervisory board

The shareholders are represented in the supervisory board of EuroCTP by:[15]

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]

See also

References

  1. ^ "Editorial information • EuroCTP". EuroCTP. Retrieved 19 January 2024.
  2. ^ 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.
  3. ^ "Consolidated Tape Providers". www.esma.europa.eu. Retrieved 19 January 2024.
  4. ^ a b "European exchanges launch JV for CTP tender - The TRADE". www.thetradenews.com. Retrieved 19 January 2024.
  5. ^ 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.
  6. ^ a b Jones, Huw (12 September 2023). "European bourses want to offer pan-EU share price feed to investors". Reuters.
  7. ^ "EU and UK regulators reveal updated plans for bond tape frameworks - The TRADE". www.thetradenews.com. Retrieved 19 January 2024.
  8. ^ Conchie, Charlie (5 July 2023). "FCA rips up trading tape in post-Brexit rules overhaul". CityAM. Retrieved 19 January 2024.
  9. ^ "EU faces last-ditch challenge from exchanges over trading reforms". www.ft.com. Retrieved 19 January 2024.
  10. ^ "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.
  11. ^ "Bloomberg, MarketAxess and Tradeweb Explore EU Consolidated Tape for Fixed Income | Press | Bloomberg LP". Retrieved 19 January 2024 – via www.bloomberg.com.
  12. ^ https://www.securitiesfinancetimes.com/securitieslendingnews/industryarticle.php?article_id=226717&navigationaction=industrynews/
  13. ^ "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.
  14. ^ "Major buy- and sell-side institutions propose own user-governed consolidated tape for equities - The TRADE". www.thetradenews.com. Retrieved 19 January 2024.
  15. ^ "Supervisory Board • EuroCTP". EuroCTP. Retrieved 19 January 2024.
  16. ^ "EU CTP by European exchanges • EuroCTP". EuroCTP. Retrieved 19 January 2024.
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