Etrading Software is one step closer to running the UK’s bond consolidated tape, submitting its authorisation application to the Financial Conduct Authority.
The High Court’s suspension on the contract’s signing was lifted in early December, allowing the authorisation process to go ahead.
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CEO Sassan Danesh told The DESK, “The rapid submission of our authorisation application ensures we maintain momentum for the 22 June 2026 launch of the UK tape.”
According to the FCA’s ‘Invitation to Tender’ document, the authorisation process requires the preferred bidder to submit updated financial forecasts based on the price they submitted during the auction process.
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Etrading Software’s chief operating officer James Haskell commented, “We have been able to move quickly to submission of our authorisation application because we made early, concrete commitments in funding, in people, and in technology.
“We have already deployed an experienced team, invested our own capital, and developed an existing market-data platform to support the UK bond consolidated tape. That level of preparedness allows us to move at pace, with our focus on execution rather than aspiration.”
The UK bond CT is expected to go live in June 2026, according to the FCA’s timeline.
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