The move is set to support institutional firms looking to integrate event probabilities into existing workflows and allows signals produced to connect to portfolio positions and risk analytics.
The move is expected to enhance transparency in the OTC derivatives market and will allow users to identify market trends and compare activity across various market segments.
The new rules will come into effect on 3 April 2028, and include changes such as reducing the number of transaction reporting fields and removing FX derivatives from reporting requirements.
The tape is now set to go live on 14 September 2026; authorisation process included assessment of EuroCTP’s data quality and performances, operational resilience, commercial model and governance.
Talos will expand its algo trading suite to include spread trading, as well as incorporating a block trading interface into its RFQ platform through the tie-up; offering comes as institutional demand for prediction markets roars louder.
“Buy-side research budgets are already under pressure, so it's understandable that they wouldn't welcome a new set of licensing accompanied by new costs and they are banking on a fear from the sell-side that being frozen out of an asset manager's LLM would be a very cold place to be in future,” Substantive Research chief executive tells The TRADE.
The new solution incorporates API connectivity, and will allow firms to reduce manual processes and leverage execution insights, The TRADE understands.
TME was the only publicly-confirmed organisation to submit a tender; tape is currently expected to go live in June 2027.
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 move marks an expansion of the firm’s prediction markets focused offering, after Tradeweb and Kalshi entered a partnership to enhance institutional access to these markets in February 2026.