THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 114 thereof,

Having regard to the proposal from the European Commission,

After transmission of the draft legislative act to the national parliaments,

Having regard to the opinion of the European Central Bank [OJ C 286, 27.7.2022, p. 17.],

Having regard to the opinion of the European Economic and Social Committee [OJ C 290, 29.7.2022, p. 68.],

Acting in accordance with the ordinary legislative procedure [Position of the European Parliament of 16 January 2024 (not yet published in the Official Journal) and decision of the Council of 20 February 2024.],

Whereas:

(1) In its communication of 24 September 2020 entitled 'A Capital Markets Union for people and businesses - new action plan' ('CMU Action Plan'), the Commission announced its intention to table a legislative proposal to create a continuous electronic live data stream, which was meant to provide a comprehensive view of the prices and the volume of equity and equity-like financial instruments traded throughout the Union across trading venues ('consolidated tape'). In its conclusions of 2 December 2020 on the Commission's CMU Action Plan, the Council encouraged the Commission to stimulate more investment activity inside the Union by enhancing data availability and transparency by further assessing how to tackle the barriers to establishing a consolidated tape in the Union.