EuroCTP B.V.
TypeBesloten vennootschap
IndustryFinancial services
Founded23 August 2023 (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
Websitewww.euroctp.eu

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

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.[11]

On 5 December 2023, the leadership of EuroCTP was announced.[12]

ESMA tender competitors include:

[15]

Organisation

Management

  • Eglantine Desautel (CEO)[16]
  • Timo Pentner (CTO)

Supervisory board

The shareholders are represented in the supervisory board of EuroCTP by:[17]

  • 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)[18] 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):[19]

See also

References

  1. ↑ https://www.euroctp.eu/editorial-information/
  2. ↑ https://www.thetradenews.com/former-euronext-market-services-and-digital-head-appointed-to-head-up-euroctp-efforts/
  3. ↑ https://www.esma.europa.eu/esmas-activities/markets-and-infrastructure/consolidated-tape-providers
  4. ↑ https://www.thetradenews.com/european-exchanges-launch-jv-for-ctp-tender/
  5. ↑ https://www.fnlondon.com/articles/eu-exchanges-join-forces-for-data-bid-20230912
  6. ↑ Jones, Huw. "European bourses want to offer pan-EU share price feed to investors". Reuters.
  7. ↑ https://www.thetradenews.com/eu-and-uk-regulators-reveal-updated-plans-for-bond-tape-frameworks/
  8. ↑ https://www.cityam.com/city-regulator-rips-up-trading-tape-in-post-brexit-rules-overhaul/
  9. ↑ https://www.ft.com/content/745ac93f-b25e-4c4c-b09c-1db932c2b144
  10. ↑ 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
  11. ↑ https://www.reuters.com/markets/europe/european-bourses-want-offer-pan-eu-share-price-feed-investors-2023-09-12/
  12. ↑ https://www.thetradenews.com/former-euronext-market-services-and-digital-head-appointed-to-head-up-euroctp-efforts/
  13. ↑ https://www.bloomberg.com/company/press/consolidated-tape/
  14. ↑ https://www.waterstechnology.com/emerging-technologies/7950820/this-week-competition-ramps-up-for-eu-equities-tape-tradeweb-euroclear-igm-partnership-nasdaq-and-more
  15. ↑ https://www.thetradenews.com/major-buy-and-sell-side-institutions-propose-own-user-governed-consolidated-tape-for-equities/
  16. ↑ https://www.thetradenews.com/former-euronext-market-services-and-digital-head-appointed-to-head-up-euroctp-efforts/
  17. ↑ https://www.euroctp.eu/supervisory-board/
  18. ↑ https://www.euroctp.eu/news/european-exchanges-collaborate-euroctp/
  19. ↑ https://www.thetradenews.com/european-exchanges-launch-jv-for-ctp-tender/
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