Regulation

EU and UK regulators reveal updated plans for bond tape frameworks

European Securities and Markets Authority (ESMA) does not expect to authorise a consolidated tape provider (CTP) for bonds until Q4 2025; Financial Conduct Authority (FCA) has effectively met its commitment to have a regime for a UK CT in place by 2024.

The TRADE predictions series 2024: Rules around research

Participants across TD Cowen, RBC Capital Markets, and Substantive Research dive into potential shifts in bundling rules for research in 2024 as well as the impacts of the US shift to T+1 settlement.