26 August 2016
Find out more

FIX Protocol develops standards for European consolidated tape

26 November 2012  |  6479 views  |  0 Stock market quotes

In a move billed by the standards-setting body as a key milestone in the development of an EU-wide consolidated tape, Fix Protocol Limited has released a set of standards for the consolidation of trade reports and market data for European equity markets.

The recommendations from the group aim to identify where the trade was issued, in what currency, and where it was executed, down to the nearest microsecond.

They have been developed in conjunction with the Market Model Typology (MMT) programme, initiated by a consortium of exchanges and technology suppliers to address data standards for trade reporting codes.

The MiFID review identified the need for market participants to gain a complete view of European equity market activity, through the consolidation of post-trade data feeds. Various attempts at data consolidation have been made since the original MiFID requirements were implemented, however the lack of common standards and guidelines has impeded progress.

Jim Kaye, co-chair of the FPL w3orking group and a director of European Execution Services at BofA Merrill Lynch says: "The availability of well-defined standards for data and trade reporting presents a significant step forward for the trading community. History has taught us that standards breed innovation and competition, as data quality increases and standards become the norm, the industry will benefit from being able to select their Consolidated Tape provider based on the strength of their offering."
KeywordsFIX

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

EU financial markets get ready for MiFID II

EU financial markets get ready for MiFID II

19 October 2011  |  10264 views  |  1 comments
Exchanges and vendors unite over consolidated tape

Exchanges and vendors unite over consolidated tape

07 April 2011  |  11917 views  |  2 comments
Nyse Technologies to develop EU consolidated tape

Nyse Technologies to develop EU consolidated tape

22 November 2010  |  10797 views  |  3 comments
FPL calls for industry-led European consolidated tape

FPL calls for industry-led European consolidated tape

18 November 2010  |  9950 views  |  1 comments
CESR signals MiFID overhaul

CESR signals MiFID overhaul

29 July 2010  |  12482 views  |  0 comments
European exchanges fight rearguard action against consolidated tape

European exchanges fight rearguard action against consolidated tape

08 July 2010  |  9393 views  |  0 comments
LSE tech breakdown re-ignites calls for consolidated tape

LSE tech breakdown re-ignites calls for consolidated tape

19 October 2009  |  5893 views  |  0 comments
Thomson Reuters launches consolidated tape

Thomson Reuters launches consolidated tape

19 January 2009  |  8745 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euFind out moreVisit VocaLink.com

Top topics

Most viewed Most shared
hands typing furiouslyBlockchain: what to expect for 2017?
8954 views 0 | 56 tweets | 46 linkedin
hands typing furiouslyBig Data's Three Big Trends in 2016
7437 views 5 | 22 tweets | 13 linkedin
hands typing furiouslyHow Banks Are Losing Millions by Ignoring...
7116 views 11 | 24 tweets | 9 linkedin
Nordea looking for AI and blockchain breakthroughsNordea looking for AI and blockchain break...
6421 views comments | 17 tweets | 19 linkedin

Featured job

Find your next job