On 24 May 2010, the Association for Financial Markets in Europe (AFME) published a press release stating that six leading investment banks (Citi, Credit Suisse, Deutsche Bank, J.P. Morgan Cazenove, Morgan Stanley and UBS) had launched a voluntary initiative to improve post trade transparency in the European over-the-counter equity markets.
The six banks will now report the volumes of cash equity trades crossed in their automated crossing systems via a service provided by Markit. Reporting began on 24 May 2010, following live testing over the previous two weeks.
At the end of each trading day Markit will collate the data from each participating bank, conduct validation checks on the information, and publish the aggregated trading volumes the following afternoon. This data will be freely available on the Markit website (www.markit.com).
View Banks to publish share volumes traded in automated systems, 24 May 2010