Thomson Reuters has a number of solutions for market data consolidation on the desktop and for both pre and post trade analysis. More information on these is provided below and on the other tabs of this site.

We would like to better tailor these to the needs of clients. Therefore, through October we will be consulting with market participants to clarify their consolidation needs and workflow with the aim of establishing a set of standards to which we will ultimately tailor our solutions. It is our intention to publish these standards so that they can be shared across data and solution vendors. We would welcome as wide an input as possible. To participate please email us at mifid@reuters.com.

Broad Data Coverage

Thomson Reuters publishes the data from all the Exchanges, new MTFs & all the OTC reporting venues, through its desktop and feeds. This data has been delivered at the best price Reuters can obtain from the contributing venues.

XBO RIC European BBO

The .xbo delivers a European BBO which displays the best executable price and venue within the MiFID Zone. It also provides a display of the last 5 orderbook trades from European executable trading venues. The attributes of .xbo are:

• Real Time European Consolidated Best Bid & Offer
• Time & Sales
• 9 regional segments to minimise data costs
• Real-Time Calculated VWAP
• RIC Syntax = [XXX][CUR].xbo e.g. VODGBP.xbo
• Available via 3000xtra, Datafeeds, Reuters Trader & RWM
• Graphing provided through TS1
• EOD on DataScope
• Universe Major European Index Constituents

XT RIC MiFID Consolidated Trade Tape

The .xt delivers a consolidated view of all trades reported for major MiFID zone European equities. The source venues include executable trading venues and Over-The-Counter trade reporting venues. The xt is a streaming delayed data service which displays delayed tick by tick trades, thereby eliminating exchange fee liability. The attributes of .xt RICs are:

• Consolidated European Trade Tape
• Streaming Delayed Tick By Tick Trade Data
• Includes Exchanges, MTFs and Trade
• Publishing Venues
• RIC Syntax = [/][XXX][CUR].xt e.g. /VODGBP.xt
• Available on 3000 xtra, Datafeeds, Reuters Trader & RWM
• Universe 1500 Most Liquid European Equities

Consolidated Order Book

Ordering the Services

Clients wishing to order this data should contact their local Thomson Reuters order management team.

Order Contact Details are available on:
https://customers.reuters.com/kccontactus/support.asp

https://customers.reuters.com/kccontactus/telephone.aspx

Further information can be found on the customerzone page:
https://customers.reuters.com/support/datasupport/mifid.aspx

Download monthly summaries on a per market and index basis

The spreadsheets below provide monthly reports at a summarised level by markets and index constituents in Pan European Equities. These show the market share in terms of all trades published across the different European exchanges and other reporting venues.

• 2009 Market Share Report (Jan - Oct) XLS
• 2008 Market Share Reports XLS

The Monthly Equity Market Share reports are sourced from our Equity Market Share Reporter. Both the Volume and Turnover data are calculated based on each individual trade reported by all European Exchanges, MTFs, and OTC trade reporting venues. We separately identify the trading volumes of the Independent Dark Pools where these are reported through OTC Trade publication services such as Markit BOAT through reference to specific flags on these feeds or from specific trade flags on the feeds from the MTFs that provide their own feeds.

The definition of country in the country reports is based on the domicile of the stocks included through reference to the two character country code at the beginning of each ISIN.

Turnover is normalised to Euros at trade level using currnency spot rates from the date of trade.

In November we decided to enhance the reports to break out the data into separate sheets for Turnover & Volume per country and index. Within each sheet we now break out the data into the following trade types and provide a summary of the activity by each trade type at the bottom of the sheet

1. Order Book - trades generated by trading on electronic open limit order book excluding trades executed during an auction period
2. Auction Trades - trades executed during an auction period operated by electronic open limit order book
3. Dark Order Book - trades generated by a dark pool of liquidity or through the interaction of purely dark order on an open limit order book
4. Off Order Book - trades reported under the rules of an exchange which may be as a result of trading on quotes from market makers or just OTC trades reported under the rules of a regulated market or MTFs.
5. MiFID OTC - trades reported through pure reporting venues like Markit BOAT or the equivalent services offered as off-exchange reporting by the exchanges such as Euronext or Nasdaq OMX.

This enhancement should provide even greater insight to the trading activity across all European Equity Markets.

The Equity Market Share Reporter in addition provides:

• analysis of the trading liquidity of any stock for which trades have been published by any of the comprehensive list of Exchanges, MTFs, Dark Pools & OTC reporting venues covered, and
• easy downloading of the data into Excel and the capture of related graphs as image files for onward distribution.

For further information about the Monthly Market Share reports or to request to be added to our distribution list for notification of when new reports are posted please email: mifid@reuters.com.