UK Finance strongly support the implementation of a UK equity CT and believe it can provide an affordable, accessible and valuable source of consolidated market data, improving transparency and supporting users across UK markets.

 

In our response, we emphasise that, if the FCA proceeds with revenue sharing, a profit-sharing approach would best support the commercial sustainability of the Consolidated Tape Provider (CTP) and the long-term success of the UK equity consolidated tape. We encourage the FCA to adopt a framework that is proportionate, transparent and flexible enough to accommodate future market developments, while avoiding requirements that could discourage participation in the CTP procurement process.

 

We support the FCA’s assessment that UK equity markets are functioning effectively and welcome its focus on ensuring that the CT improves access to market data while remaining affordable, sustainable and beneficial to market participants.