The successful launch of a “consolidated tape” is an objective benchmark by which the success of an EU capital markets union (CMU) can be measured, says Tilman Lüder, head of the securities markets unit at the European Commission.
EU authorities have been exploring the technicalities of creating a single, near real-time record of trade prices, known as a consolidated tape, for equities and bonds for several years but to date no data provider has been able to meet its wide-ranging requirements.