ESMA invitations a hit bidders to take part in subsequent level of EU bond tape gentle

ESMA has invited probably the most bidders for the EU’s fastened source of revenue consolidated tape to take part in the second one step of the gentle procedure. 

A few of the a hit events are Etrading Tool and BondTape, The TRADE can divulge. 

In December 2023, Etrading Tool showed plans to bid to grow to be the consolidated tape supplier (CTP) for each the United Kingdom and EU.  

“I’m extremely joyful to substantiate ESMA has invited Etrading Tool (ETS) to take part in the second one level in their Bond CTP Variety and Award procedure.  We’re very a lot taking a look ahead to having the chance to offer our resolution – ETS Attach – for this essential and transformative provider,” James Haskell, leader working officer, Etrading Tool, tells The TRADE. 

BondTape is the partnership made up of Propellant and FINBOURNE, with the companies having additionally showed plant to compete to grow to be the United Kingdom’s bond consolidated tape supplier. 

“We’re more than pleased to development because the tenders accumulate tempo in each jurisdictions. As pace of supply will likely be key, the enjoy the Bondtape companions have already got in turning in production-quality, consolidated marketplace knowledge to banks, asset managers, hedge budget, buying and selling venues and teachers differentiates our providing,” mentioned Neil Ryan, CEO-designate at Bondtape. 

ESMA communicated its choice immediately to the related bidders, The TRADE understands. 

As well as, the fairCT consortium, co-ordinated by means of Ediphy, showed its goal to bid for the Ecu fastened source of revenue tape in September 2024, in addition to additionally gearing as much as practice in the United Kingdom.  

The fairCT consortium is composed of Google Cloud, UBS, TP ICAP, Cboe World Markets, FactSet, and Norges Financial institution Funding Control. Whether or not they have got been invited to continue to the following level is unconfirmed. 

ESMA introduced the primary level of the choice process for the bond consolidated tape supplier (CTP) in January of this 12 months, with events invited to publish by means of 7 February 2025. 

The watchdog has now assessed those requests towards its ‘exclusion and choice standards’ ahead of informing a hit applicants lately that they will take part on this 2nd level. 

As prior to now communicated, ESMA is about to nominate a CTP by means of early July 2025, with the a hit applicant invited to perform the consolidated tape for a five-year length. 

Learn extra –  Consolidated tape: Fending off a ‘rubbish in and rubbish out workout’ 

ESMA had now not replied to a request for remark on the time of publishing.