Consolidated tape
House bill looks to back up SEC market data efforts
Congress is stepping into the US equity market data debate as the DC Circuit Court of Appeals considers dismissing the SEC’s initiatives.
Dutch sandbox aims to broker EU consolidated tape
As data quality issues are a main impediment to a viable consolidated tape in Europe, Dutch regulator AFM has helped develop pilots in its Innovation Hub sandbox.
Looming court battle could void SEC’s market data efforts
Litigation preview: What will the big exchanges argue in a court case to reverse the SEC’s initiatives?
People moves: Federal Reserve Bank of New York, DataBP, LME, Azentio, and more
A look at some of the key people moves from this week, including Michelle Neal (pictured), who joins the Federal Reserve Bank of New York as head of the markets group.
Industry slams market data fee filing
Jo struggles to see how the SEC could approve fee proposals for exchange market data fees.
Waters Wavelength Podcast: MayStreet’s Kimmel on the NMS plan
MayStreet chief policy officer Manisha Kimmel joins the podcast to talk about how national markets system data is charged for.
An EU Consolidated Tape: Advancements made in 2021, but still far to go in ’22
The second half of the year saw some long-awaited progress in the mission to fill the void of a consolidated tape in the European Union.
2021 saw market data’s quiet revolution
This year, the SEC pulled the trigger on competing consolidated tapes and a new market data governance plan. In 2022, we will know if some of it can go ahead, or remain stymied by legal battles.
Waters Wrap: The changing role of the CDO (and NYSE’s musical chairs)
As data and analytics change, so too must the CDO function. Anthony also looks at the appointment of Lynn Martin as president of NYSE.
Waters Wrap: An EU consolidated tape—a story of market data costs & reality
After the European Commission released its proposal for an EU consolidated tape last week, Anthony explores some of the unanswered questions that still linger and what the greatest roadblocks appear to be.
Top venues mull offering joint EU consolidated tape for bonds
Market participants worry a venue-led CT could be of low quality, with CT data used to create expensive additional products.
Patchy data thwarts consolidated tape hopefuls in Europe
Vendors grapple with unstandardized data reporting and data gaps in their push to develop a consolidated tape, as the EU prepares to unveil its latest legislative plans.
Waters Wrap: On cloud migrations and VCRs
Financial services firms are increasingly embracing public cloud offerings, but there have been stumbles along the way, including around scalability, throttling, and a lack of true multi-cloud connectedness. These are lessons that must be learned if…
Competing CTPs won’t work, warn EU firms, calling for single tape provider
As the industry awaits upcoming EC proposals, some firms are voicing concerns that mandating multiple CTPs could create fresh problems around data fragmentation and connectivity costs.
Murky road ahead for consolidated tape plan administrator in the US
The business unit of the new equities data plan could revolutionize pricing and accessibility in the public feeds of NMS data, say hopefuls to the role, but litigation and lack of clarity obscure the path forward.
SEC’s CT Plan timetable is ‘unrealistic’
Implementing governance structure for new US public equities datafeeds within a year is highly unlikely, say industry observers.
New entrants want to feed bond market’s hunger for data
In the absence of a consolidated tape for debt securities in the EU, vendors with different approaches to distributing fixed-income market data are emerging.
EC drafting proposal for derivatives consolidated tape
Commission official says beta version ready for testing in 2023 will also include equities, bonds and ETFs
Esma to ink deal for big data capabilities
The regulator is ditching its legacy architecture to cope with massive volumes of reported data and new supervisory responsibilities.
Traders: Consolidated tape could drive corporate bond market automation
The EC is pushing for a tape for fixed-income instruments, and market participants say it could speed up electronification, if implemented properly.
Not so Fast: SEC’s SIP Rule Speeds Ahead, But Faces Bumpy Road
Jo is skeptical that the SEC’s finalized market data infrastructure rule will make the public market data feeds faster.
SEC’s Market Data Infrastructure Rule Not Easily Said or Done
The finalized equities market infrastructure reforms will make a difference, but some market participants are calling for additional clarity.
EU Regulators Spill More Ink Tackling Market Data Costs
The latest consultation on the market data obligations under Mifid II looks to provide better, cheaper, and more uniform access to market data. But will it be enough to standardize policies?
Industry Still at Odds Over Use Case for an EU Consolidated Tape
Market participants say they want a high-quality, centralized source of market data for EU equities. But who and what is it actually for?