UK FCA launches consultation on a consolidated tape for bonds


5 July 2023 Today the Financial Conduct Authority published a consultation paper on its proposed framework for establishing a consolidated tape.

ICMA is pleased to receive the FCA’s proposals to improve markets and bolster competitiveness, in particular the creation of a consolidated tape for bonds.

We have long advocated on the benefits of a single, low-cost, source of bond market data, helping investors to make more informed and timely decisions and underpinning greater market efficiency and resilience. A well-designed and appropriately calibrated bond CT will only help to reaffirm the UK as a globally important market for both investors and issuers.

ICMA intends to respond to this consultation paper, from the perspective of a consolidated tape for bonds, and will invite members to participate in a dedicated Taskforce to draft this reponse.  

In time, ICMA looks forward to providing constructive and informed feedback representing the consolidated views of sell sides, buy sides, as well other important stakeholders, active in the international bond markets.

Furthermore, ICMA welcomes the additional measures announced by the UK, also aimed at supporting the UK’s thriving financial services sector.

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