What is the purpose of the European Consolidated Tape?

The European Consolidated Tape is designed to provide continuous, real-time trading volume and price data for exchange-traded securities. This service aggregates data from various trading venues across Europe, allowing investors and market participants to access a comprehensive view of market activity without delay. By doing so, the tape enhances market transparency, enabling informed decision-making and improving the overall efficiency of the financial markets.

The primary focus of the Consolidated Tape is on ensuring that real-time information about trading activities is readily available, thus fostering a more interconnected market environment. This is particularly important for maintaining liquidity and enabling price discovery in the trading of exchange-traded products.

Other options do not capture the main objective of the European Consolidated Tape, which is to deliver real-time data specifically related to trading activities, rather than historical data, tracking bonds, or serving regulatory purposes.