The Association for Financial Markets in Europe (AFME) has affirmed its support for the Financial Conduct Authority’s (FCA) proposal to establish a commercially viable UK equity consolidated tape, following a recent framework consultation.
The FCA launched the consultation on the framework on 19 November 2025, with interested entities invited to provide comments until 13 February 2026.
Responding to various questions open during the consultation, AFME announced its backing of initiatives such as the inclusion of both post-trade and attributed pre-trade data in the tape from launch, as well as the publication of end-of-day consolidated post-trade data before the tape goes live.
In a published statement, AFME said: “To support a robust and efficient trading ecosystem, AFME emphasises the importance of a single, competitively tendered tape that offers clarity and consistency for end users.
“We support a straightforward and cost-effective design so that the tape remains accessible and sustainable for all users. Where appropriate, the technical approach should be aligned with the EU model to ensure cross-border efficiency.”
In addition, the regulatory body has also underscored its support for the consultation with recognition of the need for more comprehensive reforms to the UK’s Reasonable Commercial Basis (RCB) framework, to resolve broader issues around the cost and availability of market data for users.
The FCA is currently set to launch the UK equity CT in 2027, with the aim of enhancing liquidity visibility and encouraging innovation and confidence in UK equity markets.