EU Finally Unifies Stock Market Data with Consolidated Tape

The European Union has finally achieved what the US has had since 1974 - a consolidated tape showing stock prices across all major exchanges. EuroCTP B.V., authorized by the European Securities and Markets Authority on July 27, 2026, will begin distributing unified market data on September 14. This data will aggregate feeds from approximately 130 trading venues and approved publication arrangements across the EU.

The consolidated tape creates a single, standardized data feed that includes the European Best Bid and Offer (EBBO), which shows the best available prices for buying and selling equities across the entire EU market at any given moment. EuroCTP is structured as a joint venture headquartered in the Netherlands, selected through a competitive process in December 2025.

Access to the consolidated tape data will be free for non-professional users and regulated entities, while professional users, including institutional traders and data vendors, will pay tiered fees. This pricing structure is deliberate, aiming to boost retail participation in EU equity markets as part of the broader Savings and Investments Union initiative.

Analysts at Goldman Sachs have predicted that the consolidated tape will enhance market visibility and execution benchmarking, with the potential to attract increased investment flows into EU equities.