February 16 (SeeNews) - The Bulgarian Stock Exchange (BSE) and 13 other European exchanges will jointly participate in the future selection process for the provision of a consolidated tape for equities in the EU, the exchanges said on Thursday.
For the purpose, the exchanges signed a term sheet to establish a joint venture, they said in a statement. The joint venture will evaluate and prepare an application as a consolidated tape in the future selection process.
The aim is the creation of a tape designed to provide a comprehensive, standardised and consistent source of market data.
The project is in line with the European Commission’s proposal for an equities tape to contribute to the development of the capital markets union. According to the Commission, the consolidated tape will provide consolidated data on prices and volume of traded securities in the EU, thereby improving overall price transparency across trading venues.