EuroCTP (European Consolidated Tape Provider) B.V. is a joint venture of 14 bourses, intending to tender for the provision of a consolidated tape (CT) for financial trading in the

European Union The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in Europe. The u ...

(EU). The selection process, arranged by the

European Securities and Markets Authority The European Securities and Markets Authority (ESMA) is an agency of the European Union located in Paris. ESMA replaced the Committee of European Securities Regulators (CESR) on 1 January 2011. It is one of three European Supervisory Authori ...

(ESMA), is scheduled to be finalised in 2025. This forms part of the

European Commission The European Commission (EC) is the primary Executive (government), executive arm of the European Union (EU). It operates as a cabinet government, with a number of European Commissioner, members of the Commission (directorial system, informall ...

Capital Markets Union The Capital Markets Union (CMU) is an economic policy initiative launched by the former president of the European Commission, Jean-Claude Juncker in the initial exposition of his policy agenda on 15 July 2014. The main target was to create a Eur ...

. For comparison, a similar electronic service, the

Consolidated Tape System 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. region ...

, has been in place in the United States since 1976. Following

Brexit Brexit (, a portmanteau of "Britain" and "Exit") was the Withdrawal from the European Union, withdrawal of the United Kingdom (UK) from the European Union (EU). Brexit officially took place at 23:00 GMT on 31 January 2020 (00:00 1 February ...

, the United Kingdom's

Financial Conduct Authority The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom. It operates independently of the UK Government and is financed by charging fees to members of the financial services industry. The FCA regulates financi ...

(FCA) has tabled a CT reform similar to the EU's.

History

Background

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 had been lagging behind the US in this regard, where consolidated tapes have been available for equities since the 1970s. Bourses had initially signalled reluctance towards the Commission's CT plans.

2023-present: Inception

On 16 February 2023, EuroCTP was announced. On 23 August 2023, EuroCTP was incorporated, and the chair of its supervisory board, Jorge Yzaguirre Scharfhausen, was announced. On 5 December 2023, the leadership of EuroCTP was announced. ESMA tender competitors include: *Jointly:

Bloomberg Bloomberg may refer to: People * Daniel J. Bloomberg (1905–1984), audio engineer * Georgina Bloomberg (born 1983), professional equestrian * Michael Bloomberg (born 1942), American businessman and founder of Bloomberg L.P.; politician a ...

, MarketAxess and Tradeweb. They pulled out of the competition in December 2023. *Jointly:

Barclays Barclays PLC (, occasionally ) is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services ...

, Credit Agricole, Societe Generale,

UniCredit UniCredit S.p.A. (formerly UniCredito Italiano S.p.A.) is an Italian multinational banking group headquartered in Milan. It is a systemically important bank (according to the list provided by the Financial Stability Board in 2022) and the world' ...

and

BlackRock BlackRock, Inc. is an American Multinational corporation, multinational investment company. Founded in 1988, initially as an enterprise risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager ...

*Jointly: Cboe Global Markets and Aquis Exchange.

Organisation

Management

* Eglantine Desautel (CEO) * Timo Pentner (CTO)

Supervisory board

The shareholders are represented in the supervisory board of EuroCTP by: * 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 A member state is a state that is a member of an international organization or of a federation or confederation. Since the World Trade Organization (WTO) and the International Monetary Fund (IMF) include some members that are not sovereign states ...

(all except for

Slovakia Slovakia, officially the Slovak Republic, is a landlocked country in Central Europe. It is bordered by Poland to the north, Ukraine to the east, Hungary to the south, Austria to the west, and the Czech Republic to the northwest. Slovakia's m ...

) of the

(EU), as well as

European Free Trade Association The European Free Trade Association (EFTA) is a regional trade organization and free trade area consisting of four List of sovereign states and dependent territories in Europe, European states: Iceland, Liechtenstein, Norway and Switzerland. ...

(EFTA) members

Switzerland Switzerland, officially the Swiss Confederation, is a landlocked country located in west-central Europe. It is bordered by Italy to the south, France to the west, Germany to the north, and Austria and Liechtenstein to the east. Switzerland ...

Norway Norway, officially the Kingdom of Norway, is a Nordic countries, Nordic country located on the Scandinavian Peninsula in Northern Europe. The remote Arctic island of Jan Mayen and the archipelago of Svalbard also form part of the Kingdom of ...

and

Iceland Iceland is a Nordic countries, Nordic island country between the Atlantic Ocean, North Atlantic and Arctic Oceans, on the Mid-Atlantic Ridge between North America and Europe. It is culturally and politically linked with Europe and is the regi ...

(the two latter of which form part of the

European Economic Area The European Economic Area (EEA) was established via the ''Agreement on the European Economic Area'', an international agreement which enables the extension of the European Union's single market to member states of the European Free Trade Asso ...

): *

Athens Stock Exchange The Athens Stock Exchange (ASE or ATHEX; , ''Chrimatistírio Athinón'') is the stock exchange of Greece, based in the capital city of Athens. It was founded in 1876. There are currently five markets operating in ATHEX: regulated securities mark ...

* Bucharest Stock Exchange *

Budapest Stock Exchange Budapest Stock Exchange (BSE) (, (BÉT)) is the Stock exchange, third largest stock exchange in Central and Eastern Europe by market capitalization and Market liquidity, liquidity. It is located at 55 Krisztina Boulevard, Budapest, Hungary, in ...

Bulgarian Stock Exchange The Bulgarian Stock Exchange (, Romanized: ''Bulgarska fondova borsa''), or BSE, is the sole licensed and operating stock exchange in Bulgaria. It was founded on 10 October 1991. The BSE is 50.5% owned by the Bulgarian government, which is ac ...

Cyprus Stock Exchange The Cyprus Stock Exchange or CSE (, is a stock exchange located in Cyprus. It is a public-sector entity under the direct control of the Cypriot government. History CSE was established under the Cyprus Securities and Stock Exchange Law which provid ...

* Deutsche Boerse *

Euronext Euronext N.V. (short for European New Exchange Technology) is a European bourse that provides trading and post-trade services for a range of financial instruments. Traded assets include regulated equities, exchange-traded funds (ETF), warrant ...

* Ljubljana Stock Exchange *

Luxembourg Stock Exchange The Luxembourg Stock Exchange, LuxSE () is based in Luxembourg City at 35A boulevard Joseph II. The chairman of the board is Alain Kinsch and the chief executive officer is Julie Becker. History A law establishing a stock exchange in Luxemb ...

Malta Stock Exchange The Malta Stock Exchange (), known as the Borża ta' Malta, is the stock exchange of the island nation of Malta. Established in 1992, it is fully owned by the Maltese government. The Malta Stock Exchange has been key to the raising of capital f ...

Nasdaq Nordic Nasdaq Nordic is the common name for the subsidiaries of Nasdaq, Inc. that provide financial services and operate marketplaces for securities in the Nordic and Baltic regions of Europe. Historically, the operations were known by the compan ...

SIX 6 (six) is the natural number following 5 and preceding 7. It is a composite number and the smallest perfect number. In mathematics A six-sided polygon is a hexagon, one of the three regular polygons capable of tiling the plane. A hexagon a ...

Warsaw Stock Exchange The Warsaw Stock Exchange (WSE) () is a stock exchange in Warsaw, Poland. Founded in 1817, it was located in the Saxon Palace until 1877 when it was moved to the Exchange Building at the Saxon Garden. Currently, it is located at ul. Książęca ...

Vienna Stock Exchange Vienna ( ; ; ) is the capital city, capital, List of largest cities in Austria, most populous city, and one of Federal states of Austria, nine federal states of Austria. It is Austria's primate city, with just over two million inhabitants. ...

References

External links

*
Consolidated tape

{{Use British English, date=May 2025 Joint ventures 2023 establishments in Europe 2023 in the European Union 2023 establishments in the Netherlands Financial services companies of the Netherlands Companies based in Amsterdam Athens Exchange Stock exchanges in Europe Deutsche Börse Euronext Nasdaq Nordic Warsaw Stock Exchange