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UK plans consolidated tape to unify trading data across equity markets
The Financial Conduct Authority’s interim market activity reporter already tracks total daily UK equity trading volumes, and the full service is targeted for launch within 18 months.
The UK Financial Conduct Authority has outlined plans to launch a consolidated tape for UK equities, aiming to bring trading information from multiple exchanges and venues into a single, easier to access source within 18 months.
The proposed tape would combine both pre trade and post trade data, giving investors a broader view of prices, liquidity, and overall market activity, addressing concerns that competition among venues has also fragmented market data and increased the cost of building a complete picture.
To bridge the gap while the full system is developed, the FCA has launched an interim market activity reporter that shows total daily UK equity trading volumes. The regulator is seeking a provider after considering responses to its consultations, which close on October 16.
The FCA’s initiative follows the June launch of a UK bond consolidated tape that has attracted more than 1.6 million licence subscriptions, and the package also asks for views on how the regulator should monitor market quality and when future intervention may be needed.