Liquidity Matters Episode 17 : The European Consolidated Tape for Equities and ETFs Goes Live On 14 September, the European Consolidated Tape for equities and ETFs went live. It is one of the biggest structural changes to European equities in two decades, and the result of years of work by exchanges, regulators and the industry. Fixed income arrived first, with the UK bond tape live since June, and a UK equities tape is expected to follow in 2027.