LONDON (Reuters] – European Union stock exchanges will have to give data on all market transactions to one “tape”, so investors can spot cheap deals and make the bloc more competitive with London, according to a draft EU document Reuters saw.

This proposal forms part of the slew of reforms proposed by the EU’s executive European Commission next week in order to boost capital markets following the departure of London last January.

Banks and asset managers have been working for a so-called “consolidated cassette”, a tape that records trading prices. They face multiple venues where the securities are traded.

The exchanges however have been resistant to releasing the data at a reasonable price.

According to the document, there would be compulsory contributions by exchanges for tape for bonds and stocks in return of “fair remuneration”.

According to Reuters, “All market data providers would need to make standardised market data accessible to market data aggregators.”

The proposal stated that exchanges would receive a minimum amount of revenue in return for selling price data.