The European Fund and Asset Management Association (Efama) has urge policymakers to support the European Parliament's proposal for an Equities/ETFs consolidated tape which includes 5 layers of real-time pre-trade data.
In a statement on 3 May, EFAMA said market participants, including the European buy and sell-sides have consistently maintained that a post-trade only equities/ETFs consolidated tape will not meet with the market demand required to make the tape commercially viable.
Tanguy van de Werve, Director General of EFAMA, stated: "This would be a legislative setback that European capital markets can ill afford with competing markets globally offering better trading conditions, and demonstrating the growth to prove it."
Once again, EFAMA and its member firms urge Member States and the European Commission to support the Parliament's proposal on the Equities/ETF consolidated tape, the statement further highlighted.
In addition to the 18 asset management firms already expressing support for the Parliament's text, six more firms have come forward to sign a letter endorsing the inclusion of real-time pre-trade data in the Equities/ETFs consolidated tape.
These include DJE Kapital AG, JP Morgan Asset Management, CaixaBank Asset Management, UBS Asset Management, Universal Investment and Vanguard.
