A commercial initiative to build an industry-led consolidated tape for European equities has been abandoned after the backers of the project failed to gain a consensus among disparate market participants.
A sad but always likely end i am afraid. Turkeys rarely vote for Xmas and the data industry is far too filled with vested interests and commercial barriers for the consolidated tape to have much chance. Especially without regulatory enforcement. Thats very
unlikely in a highly competative business. Best chance is for a industry not for profit utility where non competing areas could be merged. Even then trying to heard all these cats and get a common acceptence let alone agreement is doubtful. Strange when so
many firms in the market want and need a consolidated tape the supply industry fails to deliver. Another oddity in the FS industry
Maybe we should not view this as the 'end' of an initiative, but just an inevitable stumble on a path that is strewn with trip-steps. This particular expedition may not succeed but I detect an increasing will amongst the originators of market data to reduce
costs if not monetise their data.
If you have access (or get the free trial), see "www.waterstechnology.com/inside-market-data/opinion/1618113/whose-data-is-it-anyway" for a 12 year old view!
It's a well worn idea that will, IMHO, be picked up and brought to fruition as regulation, new players and maturing technology necessitate and facilitate change.
Excellent salary with uncapped commissionMilton Keynes
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