Delivering the European Consolidated Tape (CT) is not merely a technical milestone – it is a foundational industry requirement for building a more transparent, competitive and globally attractive capital market in Europe.
Institutional and retail investors, brokers and regulators alike need consistent access to high-quality data to measure performance effectively, ensure compliance with best execution and gain a clear view of market activity. A successful CT will provide this consolidated, harmonised and transparent data – empowering decision-making across the entire ecosystem.
As Europe moves closer to implementing this vital infrastructure, we bring more than just technology. We bring proven expertise, a future-focused vision and a firm commitment to delivering a CT that enhances efficiency, fairness and confidence in European markets.
Readiness Rooted in Trust, Collaboration and Proven Capability
As ESMA’s selection process progresses, it’s evident that delivering the CT will take more than scalable infrastructure. It requires deep alignment with market needs, constructive engagement with regulators and collaborative relationships across the financial community.
Since our founding in 2014, we’ve built a cloud-native architecture capable of processing over 4 petabytes of data daily across more than 120 global venues. This infrastructure is already powering mission-critical workflows for major market participants, delivering analytics with nanosecond precision.
But our readiness is not defined by technology alone. We maintain active dialogue with regulatory bodies to ensure our solutions align with evolving compliance frameworks. And we work closely with the broader market – from institutional investors to trading venues and infrastructure providers – to ensure our solutions reflect real-world demands.
For a deeper dive into the technology behind our approach, you can read our previous blog, where we detail the architecture, data harmonisation techniques and analytics capabilities that make our platform purpose-built for the CT.
Advancing Transparency and Fairness
A consolidated view of trading activity is essential to creating a level playing field. A reliable, independent CT will improve transparency and enable fair and equal access to information – regardless of firm size, geography or role in the market.
With standardised data and clear benchmarks, the CT will enhance execution quality assessment, support effective price discovery and strengthen regulatory oversight. Together, these elements will help restore trust, enable more confident decision-making for all market participants and make Europe a more attractive market to global investors.
Our independent governance structure ensures that we can offer a conflict-free and impartial solution, aligned with the interests of all stakeholders.
Looking Ahead
The question is no longer if Europe will implement a Consolidated Tape, but when. It is an essential step in modernising capital markets, boosting competitiveness on the global stage and delivering the clarity market participants need.
With a proven record, resilient technology and a deep commitment to transparency, collaboration and innovation, we are ready to deliver a Consolidated Tape that meets the needs of today and adapts to the challenges of tomorrow.
