From bonds to derivatives: completing the transparency picture
by Sassan Danesh, CEO at Etrading Software – originally published in The TRADE. The UK bond market has reached an important milestone. As of 1 September 2026, the UK bond con
Etrading Software is the global provider of technology-led solutions designed to assist financial institutions and industry initiatives address highly complex and constantly evolving market and regulatory challenges. The Group has offices in Europe and Asia, with headquarters in London.
GLOBAL BOND MARKETS
A single source of truth for Fixed Income Markets
Bringing maximum transparency to fixed income markets with a comprehensive, cleansed real-time data feed; saving time, cost and uncertainty.
DERIVATIVES
Deep expertise in derivatives reference data and market data solutions.
OTC ISIN
We are the technology and service provider, to the Derivatives Service Bureau (DSB), a subsidiary of the Association of National Numbering Agencies (ANNA) and the global numbering agency for OTC derivatives.
Our expertise has been developed over 10 years and is valued by customers and standards bodies such as the International Organization of Standardization (ISO) and the Financial Information eXchange (FIX).
EQUITY
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UPI
Etrading Software will act as Managed Service Provider (MSP) to ANNA DSB for a new mandate awarded to ANNA DSB by the Financial Stability Board to operate the service to generate Unique Product Identifiers for OTC Derivatives. A UPI will be assigned to an over-the-counter (OTC) derivatives product and used for identifying the product in transaction reporting data. This will enable authorities to aggregate data on OTC derivatives transactions by product or by any UPI reference data element.
DIGITAL ASSETS
ISO Standard Digital Token Identification.
Digital Token Identifier Foundation (DTIF) provides the golden source reference data for the unique identification of digital tokens based on ISO’s new standard for digital assets, ISO 24165. It is tasked to issue and maintain these digital token identifiers (DTIs) on a non-profit basis, with the aim of increasing transparency in the digital asset space through the creation of a core reference data set based on open data principles and available as a public good.
LOANS
We design and build pioneering solutions to market-wide problems.
EPIC – Loans Desktop Platform
In partnership with Coefficient Markets LLC, we have launched a new desktop platform to help provide automation and bring much needed efficiencies to the Loan Market. Where voice trading and spreadsheets currently dominate, our new platform brings efficiencies, by automating and streamlining aspects of the sales and trading process.
EPIC Mirror – Tailored for buyside loan clients’ needs
EPIC Mirror, the buyside complement to Coefficient’s existing EPIC sell-side workflow management product, aggregates market pricing and liquidity directly from participating dealers in real-time, allowing asset managers to increase the speed and efficiency of their trades.
LATEST NEWS
Transparent Markets Europe Selected as EU Consolidated Tape Provider for OTC Derivatives
Amsterdam, Netherlands ESMA awards mandate to non-profit market utility backed by founding members spanning buy-side, infrastructure and data. 7 July 2026 – Transparent Markets E
ETS Connect UK reports strong market uptake in first week of UK bond Consolidated Tape
Over 1,600,000 licence subscriptions to date as the service gets underway. London, UK 30 June 2026 – ETS Connect UK, the FCA-authorised Consolidated Tape Provider (CTP) for UK fi
The tape is live. Now the real work begins.
The UK bond Consolidated Tape (CT) went live on 22 June 2026. After a period of consultation, legislative action, a legal challenge, and an industry-wide implementation effort, pos
A new era for UK bond market transparency
London, UK 22 June 2026 – ETS Connect UK, the UK’s appointed bond Consolidated Tape Provider (CTP), today announced the official launch of the service. The UK bond Consolid