The consolidated tapes are taking shape—but what shape exactly?

With political appetite established on both sides of the Channel, attention is turning to the technical details.

Market structure experts and data professionals are waiting with bated breath for details about future consolidated tapes (CTs) to emerge from technical discussions taking place behind closed doors in the EU and the UK.

After years of planning, debate, and vigorous lobbying, both governments have signaled their intent to forge ahead with the construction of CTs—key pieces of market infrastructure that provide investors with a live stream of trade data from venues across the jurisdiction. EU

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Removal of Chevron spells t-r-o-u-b-l-e for the C-A-T

Citadel Securities and the American Securities Association are suing the SEC to limit the Consolidated Audit Trail, and their case may be aided by the removal of a key piece of the agency’s legislative power earlier this year.

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