Europe’s dream of transparency has turned into a market data nightmare plagued by extortionate costs and dubious quality. In Brussels, Paris, and London the political focus has now shifted from unread best execution reports to finding clarity with truly transparent feedback loops between the consumer and the market participants. Trading RegRadars are hot as regulators on both sides of the channel are now mandating consolidated tapes and looking at commercial obligations. Marc Gratacós, Managing Partner of TradeHeader, was present during this conversation where we discussed the actions that companies should take now to prepare for the significant changes that are expected later this year.
