UK Regulator Proposes Consolidated Share-Market Data Tape
The UK Financial Conduct Authority (FCA) has announced plans to launch a consolidated tape of equity market data within the next 18 months. This initiative aims to simplify and reduce costs for investors by combining trading information from multiple exchanges into one accessible source, including both pre- and post-trade activity. Currently, fragmented access across various UK trading venues makes it complex and expensive to obtain a full picture of market movements. The FCA has already introduced an interim reporter showing daily equity volumes while the final system is developed. A provider will be selected following consultations that close on October 16. Industry leaders have welcomed the move as evidence-based, with similar initiatives like the UK bond consolidated tape having achieved over 1.6 million subscriptions. The FCA's proposal aligns with broader European efforts to consolidate market data, including EuroCTP’s recent EU approval for a pan-European share and ETF tape set to launch after September 30.
Topics: FCA financial regulation share market data