Company:EuroCTP

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EuroCTP B.V.
TypeBesloten vennootschap
IndustryFinancial services
Founded23 August 2023; 11 months ago (2023-08-23)
HeadquartersBeursplein 5
Amsterdam, Netherlands
Key people
Eglantine Desautel (CEO)[2]
Timo Pentner (CTO)
ProductsConsolidated tape (CT) for the European Union (prospective)
Owners
  • Athens Stock Exchange
  • Bucharest Stock Exchange
  • Budapest Stock Exchange
  • Bulgarian Stock Exchange
  • Deutsche Boerse
  • Euronext
  • Ljubljana Stock Exchange
  • Luxembourg Stock Exchange
  • Malta Stock Exchange
  • Nasdaq Nordic
  • SIX
  • Warsaw Stock Exchange
  • Vienna Stock Exchange
Website{{{1}}}

EuroCTP (European Consolidated Tape Provider) B.V.[3] is a joint venture of 14 bourses,[4][5] intending to tender for the provision of a consolidated tape (CT) for financial trading within the European Union (EU). The selection process, arranged by the European Securities and Markets Authority (ESMA), is scheduled to be finalised in 2025.[6] This forms part of the European Commission's Capital Markets Union.[7]

For comparison, a similar electronic service, the Consolidated Tape System, has been in place in the United States since 1976. Following Brexit, the United Kingdom's Financial Conduct Authority (FCA) has tabled a CT reform similar to the EU's.[8]

History

Background

Further information: Finance:Capital Markets Union

Bourses had initially signaled reluctance towards the Commission's CT plans.[9]

2023-present: Inception

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:

[14]

Organisation

Management

  • Eglantine Desautel (CEO)[2]
  • Timo Pentner (CTO)

Supervisory board

The shareholders are represented in the supervisory board of EuroCTP by:[15]

  • Frank Hoba (Deutsche Boerse)
  • Emilie Rieupeyroux (Euronext)
  • Nikolaj Kosakewitsch (Nasdaq)
  • Jorge Yzaguirre Scharfhausen (SIX)
  • Matthias Szabo (Vienna Stock Exchange)
  • Manyu Moravenov (Bulgarian Stock Exchange)

Founding bourses

EuroCTP is a joint venture of the following 14 bourses, which operate regulated markets in 26 out of 27 member states (all except for Slovakia)[16] of the European Union (EU), as well as European Free Trade Association (EFTA) members Switzerland , Norway and Iceland (the two latter of which form part of the European Economic Area):[4]

  • Athens Stock Exchange
  • Bucharest Stock Exchange
  • Budapest Stock Exchange
  • Bulgarian Stock Exchange
  • Deutsche Boerse
  • Euronext
  • Ljubljana Stock Exchange
  • Luxembourg Stock Exchange
  • Malta Stock Exchange
  • Nasdaq Nordic
  • SIX
  • Warsaw Stock Exchange
  • Vienna Stock Exchange

See also

References

  1. ↑ "Editorial information • EuroCTP". https://www.euroctp.eu/editorial-information/. Retrieved 19 January 2024. 
  2. ↑ 2.0 2.1 2.2 "Former Euronext market services and digital head appointed to head up EuroCTP efforts - The TRADE". https://www.thetradenews.com/former-euronext-market-services-and-digital-head-appointed-to-head-up-euroctp-efforts/. Retrieved 19 January 2024. 
  3. ↑ "Consolidated Tape Providers". https://www.esma.europa.eu/esmas-activities/markets-and-infrastructure/consolidated-tape-providers. Retrieved 19 January 2024. 
  4. ↑ 4.0 4.1 "European exchanges launch JV for CTP tender - The TRADE". https://www.thetradenews.com/european-exchanges-launch-jv-for-ctp-tender/. Retrieved 19 January 2024. 
  5. ↑ Chan, Jeremy. "Deutsche Börse, Euronext, SIX back new bid to run EU’s sole source of trading data". https://www.fnlondon.com/articles/eu-exchanges-join-forces-for-data-bid-20230912. Retrieved 19 January 2024. 
  6. ↑ 6.0 6.1 Jones, Huw (12 September 2023). "European bourses want to offer pan-EU share price feed to investors". Reuters. https://www.reuters.com/markets/europe/european-bourses-want-offer-pan-eu-share-price-feed-investors-2023-09-12/. 
  7. ↑ "EU and UK regulators reveal updated plans for bond tape frameworks - The TRADE". https://www.thetradenews.com/eu-and-uk-regulators-reveal-updated-plans-for-bond-tape-frameworks/. Retrieved 19 January 2024. 
  8. ↑ Conchie, Charlie (5 July 2023). "FCA rips up trading tape in post-Brexit rules overhaul". https://www.cityam.com/city-regulator-rips-up-trading-tape-in-post-brexit-rules-overhaul/. Retrieved 19 January 2024. 
  9. ↑ "EU faces last-ditch challenge from exchanges over trading reforms". https://www.ft.com/content/745ac93f-b25e-4c4c-b09c-1db932c2b144. Retrieved 19 January 2024. 
  10. ↑ "Deutsche Börse Group - European exchanges collaborate for the provision of a consolidated tape in the European Union". https://www.deutsche-boerse.com/dbg-en/media/press-releases/European-exchanges-collaborate-for-the-provision-of-a-consolidated-tape-in-the-European-Union-3428666. Retrieved 19 January 2024. 
  11. ↑ "Bloomberg, MarketAxess and Tradeweb Explore EU Consolidated Tape for Fixed Income | Press | Bloomberg LP". https://www.bloomberg.com/company/press/consolidated-tape/. Retrieved 19 January 2024. 
  12. ↑ https://www.securitiesfinancetimes.com/securitieslendingnews/industryarticle.php?article_id=226717&navigationaction=industrynews/
  13. ↑ "This Week: Competition ramps up for EU equities tape, Tradeweb-Euroclear-IGM partnership, Nasdaq, and more - WatersTechnology.com". 14 April 2023. https://www.waterstechnology.com/emerging-technologies/7950820/this-week-competition-ramps-up-for-eu-equities-tape-tradeweb-euroclear-igm-partnership-nasdaq-and-more. Retrieved 19 January 2024. 
  14. ↑ "Major buy- and sell-side institutions propose own user-governed consolidated tape for equities - The TRADE". https://www.thetradenews.com/major-buy-and-sell-side-institutions-propose-own-user-governed-consolidated-tape-for-equities/. Retrieved 19 January 2024. 
  15. ↑ "Supervisory Board • EuroCTP". https://www.euroctp.eu/supervisory-board/. Retrieved 19 January 2024. 
  16. ↑ "EU CTP by European exchanges • EuroCTP". https://www.euroctp.eu/news/european-exchanges-collaborate-euroctp/. Retrieved 19 January 2024. 

External links




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