Regulatory persuasion is needed in order to ensure that a basic level of data standardisation is achieved on which to found a consolidated tape for Europe, agreed panellists at this afternoon’s session on the practicalities of establishing such a data tape. Guy Sears, director of Wholesale at the Investment Management Association (IMA), noted that regulators cannot build these standards on their own however, as this would be dangerous for the market as a whole. This means that a likely candidate needs to step in to coordinate action across the industry and FIX Protocol fits the bill, agreed Sears’ fellow panellists.

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