Exchanges Group Pans EU's Push For Consolidated Data
Law360, London (September 10, 2019, 12:19 PM BST) -- The World Federation of Exchanges has urged Europe's securities watchdog to scrap twin plans to regulate pricing of market data and create an electronic service to consolidate trade information across exchanges, warning that the moves threaten competition.
The federation, which represents trading venues including the London Stock Exchange and Deutsche Boerse, said that a proposal by the European Securities and Markets Authority to toughen existing requirements under the Markets in Financial Instruments Directive and Regulation could damage stock exchanges.
“[The] proposals may in practice give rise to a loss of competitiveness of EU stock markets, and work against the EU’s goal...
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