Etrading Software’s TME receives greenlight to deliver EU OTC derivatives consolidated tape
TME was the only publicly-confirmed organisation to submit a tender; tape is currently expected to go live in June 2027.
TME was the only publicly-confirmed organisation to submit a tender; tape is currently expected to go live in June 2027.
As the UK consolidated tape for bonds goes live today, 22 June - spanning 98% of contributor coverage at launch - Natasha Cocksedge catches up with Sassan Danesh, Etrading Software chief executive, to lift the lid on the implementation plan, and unpack both the challenges and opportunities of the initiative set to transform the UK bond market.
The authorisation marks the culmination of the consolidated tape's regulatory process; Etrading Software was granted a £4.8 million contract by the FCA to deliver the tape back in September 2025.
Committee comprises 20 voting members spanning users, contributors, vendors and academia, from firms such as BlackRock, Citadel and Janus Henderson Investors.
The firm’s dedicated non-profit organisation, Transparent Markets Europe (TME), has announced its founding members alongside the submission, including: SIX Group, S&P Global, the German Investment Funds Association (BVI), and the Derivatives Service Bureau (DSB), among others.
Smaller firms with annual revenue below £50 million will not be charged for tape data, to “support the government’s objective to create a strong and diverse UK-based fintech ecosystem,” Etrading Software chief executive tells The TRADE.
Chief executive of Etrading Software has asserted that the delivery of the infrastructure will not be disrupted by the ongoing legal proceedings.
The submission will be made through the launch of a new non-profit organisation; move follows the recent launch of ESMA’s initial selection process for the tape on Monday.
The committee is part of Etrading Software’s planned delivery roadmap ahead of the consolidated tape’s launch on 22 June 2026.
Ediphy has confirmed that it will continue with its claim for damages in the High Court in parallel; Etrading Software tells The TRADE that it welcomes the decision and endorses two complementary transparency initiatives.