European regulators have long been pushing for the establishment of a consolidated ticker tape for equities that combines multiple sources of trading data into one stream of information and covers all member states, with the aim of improving transparency across EU markets and driving down prices. A selection process to pick a provider will get under way next June, with an applicant chosen by the end of 2025. Equity exchange operators Aquis and Cboe Europe are setting up a new company named SimpliCT, which will be based in the Netherlands and "explore" a bid. The partners say that SimpliCT’s aim would be to deliver a high-quality and reliable consolidated tape that provides a simplified, comprehensive and cost-efficient view of market activity, benefiting the widest possible range of participants. It would be supported by a commercial and governance framework designed to ensure fair treatment of both data contributors and consumers. Natan Tiefenbrun, president, North American and European equities, Cboe Global Markets, says: "As one of the most important market infrastructure developments the EU has introduced for many years, it requires a provider that has the necessary technical, operational, and commercial expertise, and is aligned to policy makers’ vision and objectives for the tape. "SimpliCT has been created to meet this ambitious goal, by seeking to leverage the leading capabilities of its founder firms and their unwavering commitment to see it succeed." Alasdair Haynes, CEO, Aquis, adds: "Together with Cboe, we have identified a clear opportunity to serve the financial community as an independent and competitive operator through the formation of SimpliCT. "This proposed joint venture would not only represent a cost-efficient, robust business model that integrates advanced complementary, proprietary technologies, it would also be designed to deliver fair compensation for data contribution, aligning the interests of contributors and consumers." SimpliCT is not the only potential provider to emerge: last year, EuroCTP, and 14 exchanges including Deutsche Boerse and Euronext signed a term sheet to establish a joint venture to evaluate and prepare an application as a CT provider.