ESMA launches consultation on cost of market data and consolidated tape

MiFID Firms

Date: 15 July 2019
On 12 July 2019, the European Securities and Markets Authority (ESMA), the EU securities markets’ regulator, launched a public consultation on the development in prices for pre- and post-trade data and on the post-trade consolidated tape (CT) for equity instruments. MiFID II/MiFIR aims at ensuring fair access to and lowering the cost of market data and has established the legal framework for the provision of a CT. However, to date, no CT has emerged and, based on ESMA’s analysis, it appears that MiFID II has so far not delivered on its objective to lower the prices of market data.
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