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Consolidated Tape Will Not Make Data Cheaper

TradeSmart users already have their own consolidated tape that far exceeds the type and quality of any single data source at no extra cost.


Even if a European consolidated tape is built, trading participants will still have to buy market data feeds from the data vendors, says Matthew Coupe, co-chair of the EMEA regional committee and EMEA regulatory subcommittee at industry body FIX Trading Community.

A consultation paper from the European Securities Markets Authority (Esma) released in July covers how the consolidated tape should function. And, since the cost of market data could render the tape commercially unviable, the Esma...

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  • Joanna Wright

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