Company type | Besloten vennootschap |
---|---|
Industry | Financial services |
Founded | 23 August 2023 |
Headquarters | Beursplein 5 Amsterdam, Netherlands |
Key people | Eglantine Desautel (CEO) [2] Timo Pentner (CTO) |
Products | Consolidated tape (CT) for the European Union (prospective) |
Owners | |
Website | www |
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]
In the EU, financial markets are highly fragmented, with trading occurring across multiple exchanges and alternative trading venues. This makes it difficult for investors to get a clear picture of market activity, particularly in real-time. The EU has been lagging behind the U.S. in this regard, where consolidated tapes have been available for equities since the 1970s.
Bourses had initially signaled reluctance towards the Commission's CT plans. [9]
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:
The shareholders are represented in the supervisory board of EuroCTP by: [15]
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]
Euronext N.V. is a pan-European bourse that provides trading and post-trade services for a range of financial instruments.
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NYSE Euronext, Inc. was a transatlantic multinational financial services corporation that operated multiple securities exchanges, including the New York Stock Exchange, Euronext and NYSE Arca. NYSE merged with Archipelago Holdings on March 7, 2006, forming NYSE Group, Inc. On April 4, 2007, NYSE Group, Inc. merged with Euronext N.V. to form the first global equities exchange, with its headquarters in Lower Manhattan. The corporation was then acquired by Intercontinental Exchange, which subsequently spun off Euronext.
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Euronext Paris, formerly known as the Paris Bourse, is a securities market which merged with the Amsterdam, Lisbon and Brussels exchanges in September 2000 to form Euronext NV. As of 2022, the 795 companies listed had a combined market capitalization of over US$4.58 trillion. Euronext Paris, the French branch of Euronext which was formerly seated at the Palais Brongniart in Paris, is Europe's second largest stock exchange market as of 2023, behind the London Stock Exchange (LSE).
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The Malta Stock Exchange, originally known as the Casino della Borsa, is the stock exchange of the island nation of Malta. Since being set up in 1992, the Exchange has been key to the raising of capital for the private sector through the issue of corporate bonds and equity while virtually all the national debt of Government of Malta has been issued in the form of Malta Government bonds and treasury bills that are listed and traded on the secondary market.
The Luxembourg Stock Exchange, LuxSE is based in Luxembourg City at 35A boulevard Joseph II.
The Consolidated Tape System (CTS) is the United States electronic service, introduced in April 1976, that provides last sale and trade data for issues admitted to dealings on the American Stock Exchange, New York Stock Exchange, and U.S. regional stock exchanges.
London Stock Exchange Group plc, also known as LSEG, is a global provider of financial markets data and infrastructure. Headquartered in the City of London, England. It owns the London Stock Exchange, Refinitiv, LSEG Technology, FTSE Russell, and majority stakes in LCH and Tradeweb.
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Tradeweb Markets Inc. is an international financial technology company that builds and operates electronic over-the-counter (OTC) marketplaces for trading fixed income products, ETFs, and derivatives. Its customers include banks, asset managers, central banks, pension funds and insurance companies. Tradeweb's headquarters are in New York City.
MarketAxess Holdings Inc. is an international financial technology company that operates an electronic trading platform for the institutional credit markets, and also provides market data and post-trade services. It enables institutional investors and broker-dealers to trade credit instruments, including corporate bonds, and other types of fixed income products.
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