FINBOURNE to provide European fixed income consolidated tape
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FINBOURNE to provide European fixed income consolidated tape 10 February 2023UK Reporter: Lucy Carter
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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鈥檚 CT requirements.
The company鈥檚 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 鈥渕ore ambition鈥� is needed in the European Council鈥檚 approach toward a properly constructed CT for real-time pre- and post-trade.
The association made the statement on 20 December, adding: 鈥淲e are somewhat perplexed, however, that CT revenue share is not extended to all execution venues providing their market data.鈥�
鈥淭he 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鈥� investments and attracting international capital to the EU.鈥�
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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