EPAM Powers EU’s First Consolidated Tape for Shares and ETFs with EuroCTP

Quick Summary

EPAM Systems has partnered with EuroCTP to launch the European Union's first mandated Consolidated Tape for shares and ETFs. This cloud-native infrastructure aggregates real-time data from 130 trading venues, providing a centralized market ecosystem that ensures transparency, regulatory compliance, and cost-effective data access for investors across all 27 EU member states.

How Does the Consolidated Tape Solve EU Market Fragmentation?

For decades, the European financial landscape has struggled with fragmented market data spread across dozens of countries and approximately 130 trading venues. This fragmentation has historically made data access inconsistent and prohibitively expensive for many investors. By implementing a Consolidated Tape, EuroCTP addresses these long-standing challenges, creating a single, regulated, real-time stream for pre- and post-trade data.

The initiative, which has been live since September 14, 2026, serves as a unified data source that simplifies the complexity of the European markets. By aggregating high-volume streams into one ecosystem, the platform empowers market participants with the transparency and fairness required to make informed investment decisions in a competitive global environment.

What Technical Infrastructure Powers the EuroCTP Platform?

EPAM co-architected a greenfield cloud-native infrastructure designed to handle the massive throughput required for real-time financial data. The solution leverages advanced data analytics and EPAM’s proprietary TimeBase database to ensure low-latency processing. This high-performance middleware is essential for visualizing market movements as they happen, providing a seamless data flow to stakeholders.

• Scalable IT infrastructure built to support 130+ data sources simultaneously.
• FIX standard integration using SBE and secure web sockets for real-time streaming.
• Intuitive user portals designed to support future clients and regulatory stakeholders.
• End-to-end testing and program governance to ensure 100% system reliability.

"Operating in highly regulated, pan-European financial markets requires a delicate balance of disruptive technology and strict compliance," said Ben Brinkworth, VP, Head of Financial Services at EPAM in Europe. "Drawing on more than three decades of engineering experience, we were uniquely positioned to help EuroCTP solve a complex, long-standing data and infrastructure challenge."

Why is the EPAM and EuroCTP Partnership Significant for Investors?

The collaboration represents a major regulatory milestone, as EuroCTP is the first provider mandated by ESMA to operate the EU’s consolidated tape for a five-year term. This partnership ensures that the technical foundation of the EU's capital markets union is robust enough to meet strict MiFIR requirements. By delivering proactive program management, EPAM has enabled a joint venture owned by 16 European exchange groups to achieve full geographic coverage across the Union.

"EPAM has been a valuable, client-centric partner throughout a project that required more than technical capability alone," said Eglantine Desautel, CEO at EuroCTP. "That consistency continues to be a real asset for us now that the platform is live."

"Partnering with EPAM has been instrumental in bringing Europe's consolidated tape to life," said Timo Pentner, CTO at EuroCTP B.V. "Their team delivered the greenfield, cloud-native infrastructure behind the service, along with the low-latency and web APIs and portals our users access it through. Their proactive program management has been a critical driver of our delivery, and above all, they earned our trust."

FF NEWS TAKE:

The launch of a Consolidated Tape is a genuine "needle-mover" for European capital markets. By removing the data silos that have plagued the EU for decades, EPAM and EuroCTP are finally leveling the playing field between institutional giants and smaller investors. This isn't just a technical upgrade; it is the essential digital plumbing required to make the European Union a truly unified and competitive financial powerhouse on the global stage.