Consolidated Tape

MiFID II envisages that there should be a consolidated tape of trade reports for shares, depositary receipts, ETFs, certificates, and other similar financial instruments from when the revised legislation takes effect from January 2017. Four years later, it is envisaged that there will be a consolidated tape for non-equity instruments. The aim is to make it easier for market participants to gain access to a consolidated view of trade transparency information that is available.