Banks express concern over top venues’ bid for EU consolidated tape

End-users are worried about the repercussions of handing over a data monopoly to the heavyweight operators in the fixed income space.

Banks and asset managers are concerned that a venue-led consolidated tape (CT) for fixed income—run by Bloomberg, Tradeweb, and MarketAxess—would enhance investment firms’ reliance on a small group of operators in the bond markets and solidify the venues’ dominance in the space.

“When I found out about the consortium being put in place, my view was that this is not a good decision for us, the consumer side,” says a senior market data lead at a European-based investment bank.

That market data

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DORA stalls over identifier dispute

A disagreement over how to classify third-party tech providers on a reporting form known as the “register of information” has held up preparations for the highly anticipated operational resiliency rule in Europe.

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