EU Approves Plans for Consolidated Tape to Improve Investor Access to Financial Market Data
• EU approves new rules to improve investor access to stock, bond, and derivative price data
• Aims to create "consolidated tapes" providing real-time price snapshots to level playing field
• Tapes seen as initial step to more integrated pan-European capital markets
• Industry players scrapped plans for bond tape citing complexity and costs
• Rules also ban brokers from receiving payments for order flow from trading platforms