Over the past few years, both the UK and the EU have taken major steps toward building comprehensive bond and derivatives transparency infrastructures. These initiatives — each designed around their own regulatory mandates — share many of the same objectives: improving data quality, enhancing market...
London, UK 02 December 2025 — Etrading Software welcomes today’s announcement regarding the lifting of the suspension of the UK bond Consolidated Tape (CT) procurement. This outcome will enable the UK bond CT to move ahead at full pace, marking a significant step forward in delivering...
Amid all the noise around legal challenges, there’s a risk that we lose sight of the value the UK bond Consolidated Tape represents to the global fixed income community. That value is largely predicated on the role that the UK plays in global fixed income trading...
London, UK 25 November 2025 — Etrading Software confirms that it has submitted a witness statement to the High Court in support of the Financial Conduct Authority’s application to lift the automatic suspension on the award of the UK bond Consolidated Tape contract. Etrading Software has also...
Today’s FCA announcement marks an important step forward in the delivery of the UK bond Consolidated Tape. The FCA has applied to the High Court to lift the automatic suspension that is currently preventing contract signature with Etrading Software (ETS), following a legal challenge to...
Collaboration can help minimise operational challenges. The UK and EU are building consolidated tape infrastructures across bonds, equities and derivatives, inspired by the success of the US TRACE system. For market participants, success depends not only on regulation and technology, but also on sequencing: staggered rollouts...
This article was first published on The TRADE. In light of the legal challenge from Ediphy regarding the UK Financial Conduct Authority’s decision to award the contract for the UK bond consolidated to Etrading Software, chief executive of ETS, Sassan Danesh, unpacks why the suspension exists, what...
On 1 December 2025, the FCA’s revamped bonds transparency regime comes into effect, slightly ahead of the EU’s (currently slated for March 2026 subject to final rule adoption). With less than three months to go, here’s a quick overview of the main UK changes. Same scope,...
The UK’s capital markets stand at a crossroads. The bond Consolidated Tape (CT) is a once-in-a-generation opportunity to strengthen transparency and competitiveness. As CEO of Etrading Software, I want to speak candidly about the current situation. The FCA’s award of this contract to Etrading Software,...
London, UK 24 September 2025 — Etrading Software welcomes the FCA’s award of the UK bond Consolidated Tape (CT) contract, a pivotal step in advancing market transparency, liquidity, and efficiency across UK bond markets. The award of this contract, which we consider followed a fair and transparent procurement...
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