10 December 2019, 14.00 – 18.00, registration and welcome coffee from 13.30
De Warande, Rue Zinner 1, 1000 Brussels
14.00 – 15.50 Panel 1 – Cost of Data
Discussion points
- How has market data prices developed since MiFID II/MiFIR went into force? What is the reason behind this development?
- Has the Reasonable Commercial Basis (RCB) provisions been fully implemented?
- Is the current disclosure sufficient in order to fully understand how prices are set?
- Is there some room for improvement in terms of usability and comparability of the RCB information?
- Is stronger supervisory guidance a way forward in order to further improve the quality of RCB information disclosure?
- Should a revenue cap or Long Run Incremental cost (LRIC+) model be considered?
Confirmed speakers
Carsten Osterman Head of Trading Unit, ESMA
Hans Wolters Senior Policy Advisor, Strategy, Policy & International Affairs Division, AFM Netherlands
Michael Pedroni Executive Vice President & Managing Director of International Affairs, Managed Funds Association
Alexandra Hachmeister Managing Director Market Data and Services at Deutsche Brse Group
Pablo Portugal Managing Director, Advocacy, AFME
Moderator
Rebecca Christie Visiting fellow, Bruegel
15.50 – 16.10 Refreshments & networking
16.10 – 18.00 Panel 2 – Consolidated Tape
Discussion points
- What are the main reasons behind the lack of a European equity consolidated tape (CT)?
- Is there a demand for an equity CT?
- Would an equity CT without UK data still be useful?
- Is the quality of data provided by APAs and SIs a hampering factor? Could a standardized handbook be a solution in this regard?
- What would be the most feasible governance model for an equity Consolidated Tape Provider (CTP)?
Confirmed speakers
Tilman Lueder Head of unit C3 – Securities Markets, DG FISMA, European Commission
Gavin Carey Head of Enterprise, EMEA, Refinitiv
Mark Spanbroek Chairman, FIA European Principal Traders Association
Alexandra Hachmeister Managing Director Market Data and Services, Deutsche Brse Group
Moderator
Rebecca Christie Visiting fellow, Bruegel
