Two former executives from rival European trading platforms have joined forces to accelerate the creation of a consolidated tape of European equity data, which would pull together prices from across all trading venues. Producing a single pricing tape is one of the most pressing issues facing the industry.

Ex-NYSE Euronext data chief Mark Schaedel and Graham Dick, formerly of Bats Chi-X Europe, have co-founded consultancy The Coba Project, according to recent filings with Companies House. Coba will focus on pan-European market transparency issues, including the creation of a single feed of equities data, according to sources familiar with the situation.