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EU Consolidated Tape: ? characteristics and implementation modalities

Day 2 Morning

Thursday 09 September

Room :

Plenary Room 2

Speakers

Chair
Robert Ophèle
Chair - Autorité des Marchés Financiers (AMF)
Public Authorities
Stephen Berger
Managing Director, Global Head of Government & Regulatory Policy - Citadel
Carmine Di Noia
Commissioner - Commissione Nazionale per le Società e la Borsa (CONSOB)
Markus Ferber
MEP, ECON Committee - Committee on Economic and Monetary Affairs, European Parliament
Hanzo van Beusekom
Member of the Executive Board - Dutch Authority for the Financial Markets (AFM)
Industry Representatives
Nicholas Bean
Head of Electronic Trading Solutions - Bloomberg Trading Facility Limited
Eric Boess
Managing Director, Global Head of Trading - Allianz Global Investors
Niels Brab
Head of Group Regulatory Strategy, Government Relations & Political Affairs, Chief Regulatory Office - Deutsche Börse Group
Kay Swinburne
Vice Chair Financial Services - KPMG LLP

This session will first discuss the added value that can be expected from a Consolidated Tape in the EU, the use cases identified and what should be its main characteristics. The panel will also assess the conditions and challenges for a Consolidated Tape to be viable in the EU in terms of pricing, business and governance model, and how these may be addressed.

Points of discussion

  1. What is the expected added value of a Consolidated Tape in the EU? What are the main use cases identified? What should be its scope and main characteristics for it to have sufficient added value?
  2. How can the emergence of a viable Consolidated Tape project be incentivised in the EU? What should be its main characteristics in terms of pricing and business model? Could there be several CTs in the EU or is there a natural monopoly? What should be the priorities for the implementation of an EU CT?