The Financial Conduct Authority has published a study by DotEcon on how the UK Government might structure, regulate and procure a consolidated tape provider (CTP). Following the Edinburgh Reforms of wholesale financial markets, the UK Government proposes to create a consolidated feed of trading data from across all UK trading venues and approved publication arrangements, likely for bonds first and subsequently equities.

Our study forms part of the FCA’s consultation and considers the case for an exclusive CTP for each asset class, what obligations it might operate under and how a CTP might be appointed through a competitive process.