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Cboe Slams EU’s Plans for Market Data as ‘Highly Discriminatory’

  • Plans for data feed disadvantage some venues, Cboe says
  • European Commission unveiled capital markets reforms Thursday
    
Photographer: Alex Kraus/Bloomberg

A centerpiece of the European Union’s push for a cross-continental financial system has drawn criticism from one of the biggest exchanges in the bloc.

The EU revealed plans Thursday for a near-realtime consolidated tape to provide investors with an overview of liquidity and prices across European trading venues. Exchanges including Euronext NV and Deutsche Boerse AG are set to share in the revenue generated by this data, while other operators like Cboe Global Markets Inc.’s European unit will be excluded.