European exchanges collaborate for the provision of a consolidated tape in the European Union
Today, fourteen European exchange groups, present in twenty-six1 Member States of the EU, announced a joint initiative to participate in the future selection process for the provision of a consolidated tape (CT) for equities in the European Union. The project responds to the European Commission’s proposal for an equities tape to contribute to the development of the Capital Markets Union.
The participating exchanges - cornerstones of financial markets across Europe with decades of experience in operating critical market infrastructure - have signed a term sheet to establish a joint venture that will evaluate and prepare an application as a CT provider in a future selection process.
The participants are recognised specialists in supplying reliable and high-quality market data and are well-positioned to deliver a CT quickly, efficiently, and to the highest operational standards.
The project will focus on providing a tape designed to provide a comprehensive, standardised and consistent source of market data and will seek to collaborate with regulators to develop the optimal solution for investors.
Through this joint venture, the participating exchanges, as key players in the EU’s capital markets ecosystem, are reiterating their commitment to fostering the EU’s open strategic autonomy.
1 All EU Members States except Slovakia
This press release contains forward-looking statements, within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including statements with respect to the formation of a joint venture by the participating exchanges and the potential benefits of the joint venture. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the control of the joint venture participants. These factors include, but are not limited to factors detailed in a joint venture participant’s annual report on Form 10-K and periodic reports filed with the U.S. Securities and Exchange Commission, if any. The joint venture participants undertake no obligation to release any revisions to any forward-looking statements.
Joint Venture participants:
Athens Stock Exchange
Bucharest Stock Exchange
Budapest Stock Exchange
Bulgarian Stock Exchange
Cyprus Stock Exchange
Deutsche Boerse Group
Luxembourg Stock Exchange
Malta Stock Exchange
SIX Group, incorporating:
Warsaw Stock Exchange
Wiener Börse, incorporating:
Prague Stock Exchange
Vienna Stock Exchange
Zagreb Stock Exchange, including:
Ljubljana Stock Exchange