FINBOURNE to provide European fixed income consolidated tape
10 February 2023 UK
Image: denisismagilov/stock.adobe.com
Bloomberg, MarketAxess and Tradeweb have partnered with FINBOURNE Technology (FINBOURNE) to produce a consolidated tape (CT) for fixed income in European markets.
FINBOURNE has worked with a number of capital markets participants, including firms, regulators and industry bodies to gain a comprehensive understanding of the industry’s CT requirements.
The company’s introduction of a CT for fixed income in European markets comes amid ongoing industry discussion to integrate CT for real-time pre-trade as well as post-trade.
In December, The Association for Financial Markets in Europe (AFME) released a statement saying that “more ambition” is needed in the European Council’s approach toward a properly constructed CT for real-time pre- and post-trade.
The association made the statement on 20 December, adding: “We are somewhat perplexed, however, that CT revenue share is not extended to all execution venues providing their market data.”
“The establishment of a properly constructed CT for equities and bonds is an important incremental step toward further integrating EU markets, reducing home biases in EU citizens’ investments and attracting international capital to the EU.”
FINBOURNE indicates that the CT will be instrumental in achieving its goal of delivering greater transparency, improved efficiency and reduced operational complexity in capital markets.
FINBOURNE has worked with a number of capital markets participants, including firms, regulators and industry bodies to gain a comprehensive understanding of the industry’s CT requirements.
The company’s introduction of a CT for fixed income in European markets comes amid ongoing industry discussion to integrate CT for real-time pre-trade as well as post-trade.
In December, The Association for Financial Markets in Europe (AFME) released a statement saying that “more ambition” is needed in the European Council’s approach toward a properly constructed CT for real-time pre- and post-trade.
The association made the statement on 20 December, adding: “We are somewhat perplexed, however, that CT revenue share is not extended to all execution venues providing their market data.”
“The establishment of a properly constructed CT for equities and bonds is an important incremental step toward further integrating EU markets, reducing home biases in EU citizens’ investments and attracting international capital to the EU.”
FINBOURNE indicates that the CT will be instrumental in achieving its goal of delivering greater transparency, improved efficiency and reduced operational complexity in capital markets.
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