This is going to hurt: EU-prescribed OTC tape is no cure-all

Market participants sharply divided on utility of a consolidated tape to record OTC derivatives trades

Sometimes, what the doctor orders isn’t quite what the patient needs.

Such may be the case with EU legislators, who are prescribing a feed to record price and volume information for all over-the counter derivatives trades executed within the bloc. The message to market participants: this will do you good.

But many of those on the receiving end – both buy- and sell-side – don’t quite see how, and they think it may be seeking to cure an ill that simply isn’t there.

“A tape on derivatives is

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