In addition, the association has requested that the CT is sold with a simple, single market data licensing framework, covering a variety of use cases.
Caution tape picture professional#
We trust that the FCA’s extensive work on wholesale data will help address anomalies in this area, which are detrimental to financial markets and their users.”ĪFME has said it would like to see a single independent consolidator for each asset class, as well as fair and appropriate price levels for professional and non-professional users respectively to ensure that it is commercially successful. It adds: “We recognise that even an appropriately constructed CT will not fully address the current unacceptably high cost of market data. address the current fragmentation of post-trade transparency data.” The new CT will help reduce trading costs, increase transparency and improve data quality.”Ĭommenting on the decision, the Association for Financial Markets in Europe (AFME) has said: “ is a welcome step as it will help to ensure that associated data costs remain as low as possible. Sarah Pritchard, executive director of markets and executive director of international at the FCA, comments: “We are adapting our rules to make sure the UK market works well, providing certainty for firms and so providing a good environment for investment. The FCA has said that a CT, specifically designed for the UK market, will increase industry competitiveness and enhance the quality of trading data.
The Financial Conduct Authority (FCA) has proposed the introduction of a UK consolidated tape (CT) for bonds and equities.Ī CT is a high-speed electronic system that combines multiple sources of trading data into one stream of information. FCA proposes introduction of a UK consolidated tape for bonds and equities
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