FinanceDublin.com - A European ‘Consolidated Tape’ system would propel EU capital markets union

The European Union needs to remove barriers to trading and open up investor access to market data, preferably through a pre and post trade consolidated tape, to make Europe a more competitive location for capital markets activity writes BPFI’s Peter McGuigan. While Ireland’s financial services industry has benefited from the removal of barriers, it is vital that the EU regulatory framework is harmonised and applied consistently across all member states to establish a truly single market in financial services, he writes.

Over the past number of months there has been a growing list of companies deciding to de-list from the Irish stock exchange, usually in favour of New York. Similar moves are also hitting the much larger and liquid bourse in London. Understandably, this has got the attention of journalists, investors and, in some cases, politicians with all raising the valid question: why are successful companies doing this?

While the answer is not straightforward, it does signal the often-cited cl....

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