Ediphy has announced five major investors for fairCT business, provider of the European consolidated tape for bonds.
Barclays, Citadel Securities, Deutsche Bank, TP ICAP and UBS Investment Bank have signed on to support the company.
ESMA is currently running the authorisation process to allow fairCT to operate the tape. Pricing is expected to be published either before or in tandem with authorisation.
The tape is expected to go live once a minimum of 80% of European trading venues and APAs, representing at least 80% of traded volume, are connected.
In the UK, the FCA and provider Etrading Software plan to launch the bond tape on 22 June.
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Stephen Berger, global head of government and regulatory policy at Citadel Securities, commented, “The consolidated tape promises to enhance transparency, deepen liquidity, improve outcomes for investors, increase competition and make markets more resilient. fairCT is uniquely positioned to help deliver on these objectives, and to further deepen and integrate EU capital markets.”
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