TransFICC confirm intention to bid to be CTP
21 November 2024 UK
Image: stock.adobe.com/niti
TransFICC intends to bid to be a consolidated tape provider (CTP) for fixed income.
The FCA is expected to begin its tender process and criteria for the UK CTP in the next few weeks.
The European Securities and Markets Authority (ESMA) will begin its own process for the EU CTP in January 2025.
Both regulatory bodies have stressed that CTPs should provide a low-cost, resilient and high-quality service which can be implemented quickly, connecting to all trading venues and approved publication arrangements (APAs) across the UK and EU, and distributing data to users.
Steve Toland, co-founder of TransFICC says: “TransFICC has been running a CTP pilot for nearly two years and during that time clients have tested it for performance, resilience, and ease of integration.
“The buy side, sell side, market data firms and venues have successfully tested data contribution and data output, the results of which have given us significant insight into how to develop and support a CTP in production.”
The FCA is expected to begin its tender process and criteria for the UK CTP in the next few weeks.
The European Securities and Markets Authority (ESMA) will begin its own process for the EU CTP in January 2025.
Both regulatory bodies have stressed that CTPs should provide a low-cost, resilient and high-quality service which can be implemented quickly, connecting to all trading venues and approved publication arrangements (APAs) across the UK and EU, and distributing data to users.
Steve Toland, co-founder of TransFICC says: “TransFICC has been running a CTP pilot for nearly two years and during that time clients have tested it for performance, resilience, and ease of integration.
“The buy side, sell side, market data firms and venues have successfully tested data contribution and data output, the results of which have given us significant insight into how to develop and support a CTP in production.”
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