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| Company type | Joint venture |
|---|---|
| Industry | Financial services |
| Founded | 23 August 2023; 2 years ago (2023-08-23) |
| Headquarters | Beursplein 5 Amsterdam, Netherlands |
Key people | Eglantine Desautel (CEO)[2] Timo Pentner (CTO) |
| Products | Consolidated tape (CT) for the European Union (prospective) |
| Owners | |
| Website | www |
EuroCTP (European Consolidated Tape Provider)B.V.[3] is a joint venture of 15bourses,[4][5] intending to tender for the provision of aconsolidated tape (CT) for financial trading in theEuropean Union (EU). The selection process, arranged by theEuropean Securities and Markets Authority (ESMA), is scheduled to be finalised in 2025.[6] This forms part of theEuropean Commission'sCapital Markets Union.[7]
For comparison, a similar electronic service, theConsolidated Tape System, has been in place in the United States since 1976. FollowingBrexit, the United Kingdom'sFinancial Conduct Authority (FCA) has tabled a CT reform similar to the EU's.[8]
In the EU, financial markets are highly fragmented, with trading occurring across multiple exchanges and alternative trading venues. This makes it difficult for investors to get a clear picture of market activity, particularly in real-time. The EU had been lagging behind the US in this regard, where consolidated tapes have been available for equities since the 1970s.
Bourses had initially signalled reluctance towards the Commission's CT plans.[9]
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:
The shareholders are represented in the supervisory board of EuroCTP by:[16]
EuroCTP is a joint venture of the following 14 bourses, which operate regulated markets in all 27member states[17] of theEuropean Union (EU), as well asEuropean Free Trade Association (EFTA) membersSwitzerland,Norway andIceland (the two latter of which form part of theEuropean Economic Area):[4]
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