23 August 2023 marked the formal incorporation of EuroCTP B.V., which seeks to become the consolidated tape provider for equities and ETFs in the European Union.
The company will operate under its board of directors, with representatives from all participating exchanges on its supervisory board.
The company has conveyed its intention to provide a comprehensive view of the European equity market. It aims to offer a clear, consistent overview of the EU trading environment and ensure the consolidated tape adheres to the necessary legal and regulatory guidelines.
This incorporation follows the joint venture disclosed on 16 February by fourteen European exchanges.
This venture was in response to the European Commission’s recommendation for an equities tape, a part of the Capital Markets Union project. In June, European institutions outlined the legislative framework for a consolidated tape, aiming to cater to all market participants.
Shareholders have been involved in this initiative for over a year, with significant investments already channelled into the project. The intention is for the company to participate autonomously in the forthcoming selection process for the provision of a consolidated tape in the European Union.
Jorge Yzaguirre Scharfhausen, the newly elected chair of EuroCTP’s supervisory board, stated, “The initiative that has led to the creation of EuroCTP is a true representation of European capital markets and shows a broader range of interests than any other consolidated tape proposal, its aim is to strengthen the EU Capital Market Union.”
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