The MiFIR Review and a European Consolidated Tape: the next step towards a Capital Markets Union-Reference-Cited by-同舟云学术

The MiFIR Review and a European Consolidated Tape: the next step towards a Capital Markets Union

Published:2023-05-10 Issue:1 Volume:24 Page:119-134
ISSN:1612-3093
Container-title:ERA Forum
language:en
Short-container-title:ERA Forum

Author:

Rogge Ebbe^ORCID

Abstract

AbstractOne of the main elements of the MiFIR Review is the revision of the framework for a Consolidated Tape in Europe. The objective is to establish a tape for each of the three main asset classes: bonds, equity, and derivatives. The objective is to provide a single reference source of information for transactions. It would thus reduce fragmentation and information asymmetries within the Capital Markets Union. This paper examines the main elements of the proposals, tailored to each asset class, as well as different use cases. Overall, the proposals appear to be a significant improvement on the current unsuccessful framework.

Publisher

Springer Science and Business Media LLC

Subject

Law,Political Science and International Relations

Link

https://link.springer.com/content/pdf/10.1007/s12027-023-00743-y.pdf

Reference56 articles.

1. Association for Financial Markets Europe (AFME), German Investment Funds Association (BVI), Chicago Board Options Exchange (CBOE), European Fund and Asset Management Association (EFAMA): A cross-industry consensus on the EU equity consolidated tape proposal - statement of principles (30 May 2022). Available at: https://cdn.cboe.com/resources/participant_resources/Cross_Industry_position_on_the_CT_-_Statement_of_Principles.pdf

2. Association for Financial Markets Europe (AFME): AFME position paper on the consolidated tape (Aug 2022). Available at: https://www.afme.eu/Portals/0/globalassets/images/publications/AFME%20Consolidated%20Tape%20Update%20Draft%20Paper_Aug%2022_final_clean%20(002).pdf?ver=2022-09-06-121617-263

3. Association for Financial Markets Europe (AFME): Understanding EU bond market structure and dynamics (Nov 2021). Available at: https://www.afme.eu/Portals/0/DispatchFeaturedImages/AFME_FixedIncome2021_08.pdf

4. Autoriteit Financiële Markten (AFM): A review of MiFID II and MiFIR: impact on the fixed income and derivative markets (27 Aug 2020). Available at: https://www.afm.nl/~/profmedia/files/publicaties/2020/mifid-review-non-equity-external.pdf?la=nl-nl

5. Autoriteit Financiële Markten (AFM): Impact analysis MiFID II (May 2020). Available at: https://www.afm.nl/~/profmedia/files/rapporten/2020/impact-mifid2.pdf