Risk Management: In the Eye of the Storm
Biggest Innovators on Wall Street in 2010 | CASE STUDY: Goldman Sachs Electronic Trading | After VaR: Q&A with Ron Papanek | Europe's Challenge | NSX Cuts In | Keep Out, At Your Own Risk
Europe's Challenge
December 15, 2010
Allwright says that a new service offered by Thomson Reuters next year will complement its existing post-trade consolidated tape on a 15 minute delayed basis for 1,800 European stocks. The new product which anticipates the adoption of CESR’s trading flags, will offer real-time post-trade data on 6,436 stocks recognized by CESR as “trades admitted for trading on European Union regulated markets”
Still Allwright anticipates that firms wanting to use consolidated data to prove they have met MIFID’s best execution requirements will use Thomson Reuters’ 15-minute delayed data. NYSE Technologies says that its post-trade data will also be available in real-time and 15-minute delayed formats.
“A [delayed] Tape of Record is a very simple and practical application of the newly-defined standards that address transparency issues in a manner very similar to what investors already know today as time and sales,” says Mark Schaedel, global head of data products for NYSE Technologies. ”While there is no single source for time and sales data today it informs investors with a consistent view of the markets.”
