In a joint letter, Cboe, AFME, EBF, EFAMA and EPTA urge policymakers to make mandatory cash equity CCP clearing interoperability a key pillar of MISP to support the creation of “a truly competitive and integrated European capital market,” The TRADE understands.
The removal will better reflect ETF and futures price information in real time, reducing the likelihood of trading disruptions, and aligns with ADX’s continual build out of its derivatives offering.
TME was the only publicly-confirmed organisation to submit a tender; tape is currently expected to go live in June 2027.
The transition deadline came to an end of 1 July 2026, and will also mean non-EU entities cannot provide crypto-asset services to EU clients, nor can certain services be outsourced to unauthorised firms.
The plans come following recent market shifts and turbulence, such as the Middle East conflict, and aim to curb risk posed by a small number of firms holding concentrated positions and triggering destabilising cross-market unwinds.
The transaction took place on the Canton Network between Franklin Templeton and Virtu Financial, and comes amid growing institutional momentum behind tokenised real-world assets.
On average, 47,009 inbound records were processed daily in first week of tape operations; ETS Connect UK has confirmed it will open-source the full suite of data quality validation logic for the tape to boost transparency.
The trades are facilitated within State Street’s GlobalLINK FX Connect platform; solution allows asset managers to directly match trades with each other while still operating within their existing execution channels.
The move follows the launch of the DTCC’s industry-wide testing phase for 24/5 trading in January 2026, and aligns with wider efforts to expand to extended trading models across the US equities market.
The past week has seen various moves across equities and FX.