ESMA: MiFID II/MiFIR Review Report 1: The development in prices for pre- and post-trade data and on the consolidated tape for equity instruments
05 Dec 2019 (UPDATED: 13 Mar 2026)
International
1 min read
ESMA’s review has found that MiFID II has not delivered on its objective to reduce the cost of market data charged by trading venues and approved publication arrangements. ESMA notes that, as no consolidated tape has materialised, it recommends the establishment of an EU-wide real-time consolidated tape for equity instruments.