Meet the consolidated tape contenders
ETS declared bidder for EU and UK Bond and Derivatives CTPs
Europe’s development of a consolidated tape for trading data now has clear front runners, and benefits.
Three firms have confirmed they will compete to be consolidated tape providers (CTPs) for UK and European capital markets, with another three uncommitted and two erstwhile providers now ruling themselves out of the race.
Etrading Software plans to run tapes for UK bonds and for EU bonds and derivatives with total management control, and data management, although it may select some tech suppliers for connectivity. Finbourne is planning to run a single tape for UK and EU markets with appropriate rules to match each jurisdiction and asset class, as part of a consortium, although it cannot yet name its partners. TransFICC is looking to join a consortium while providing the technology for the CT alongside partner firms that can manage compliance and governance. MarketAxess and Ediphy have both declined to comment on their plans, and Propellant Digital is currently watching from the sidelines.
For full article, first published by The Desk on 9th May 2024.
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