SUMMARY 50 WORDS: [EFAMA published a press release, informing about European asset managers expressing their full support for the European Parliament's proposal on Equities Consolidated Tape (MiFIR Review).

Indeed, 18 European buy-side firms, including Union, NAME_1, Invesco, Legal and General, NAME_2, and NAME_3, issued a letter to policymakers stating that an Equities/ETFs tape that delivers data in real-time and includes pre-trade data in the form of 5 layers of best bid and offer will meet necessary market demand to make the Equities/ETFs Consolidated Tape commercially viable. The consolidated tape should be available on a Reasonable Commercial Basis, as with all market data feeds.

The letter urged policymakers to outline a robust governance framework from the start to ensure that decisions governing policies and fees, data content, and speed and connectivity are made by a broad group of market participants, including the data user community. The European buy-side urges the co-legislators to seize this opportunity to modernize Europe's capital market infrastructure and ensure that capital markets continue to grow and attract both domestic-EU investment and global investment flows.

European capital markets have contracted liquidity by 25% from 2013, compared to the US, which has grown by 23%, and Asia, which has grown by 7%. The lack of a consolidated equities tape contributes to this situation, putting a complex and fragmented EU27 market at a competitive disadvantage globally when marketin Give two different versions of responses. Please separate the responses with 6 asterisk symbols: ******.
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