Regulators in the US, UK, and EU moved to push forward market data efforts this year.
Venue-led consortium plans to pick a winner before EU regulators begin tender process – anticipated in third or fourth quarter of 2023.
Bloomberg, MarketAxess and Tradeweb will join forces to create an independent company and will submit a request for information in search for a third-party vendor to partner with.
Market participants and industry groups are challenging the UK government’s approach to a competitive framework for the consolidated tape.
As data quality issues are a main impediment to a viable consolidated tape in Europe, Dutch regulator AFM has helped develop pilots in its Innovation Hub sandbox.
The second half of the year saw some long-awaited progress in the mission to fill the void of a consolidated tape in the European Union.
Market participants worry a venue-led CT could be of low quality, with CT data used to create expensive additional products.
Vendors grapple with unstandardized data reporting and data gaps in their push to develop a consolidated tape, as the EU prepares to unveil its latest legislative plans.
In the absence of a consolidated tape for debt securities in the EU, vendors with different approaches to distributing fixed-income market data are emerging.
The EC is pushing for a tape for fixed-income instruments, and market participants say it could speed up electronification, if implemented properly.