CMS has been appointed by UK Finance, the trade association for the UK banking and financial services sector, to advise on its response on behalf of the industry to the FCA’s recently published consultation paper on establishing a consolidated tape in the UK (FCA CP23/15).
A consolidated tape is an electronic live data stream that collates trading data on financial instruments, in particular prices and volumes, for use in financial markets. The consultation is part of the Financial Conduct Authority (FCA) and HM Treasury’s (HMT) Wholesale Markets Review. HMT and the FCA are aiming to encourage the emergence of a consolidated tape (CT) in the UK, initially for bonds, before moving on to consider the framework for a CT for equities and derivatives in turn.
CMS will be supporting UK Finance pro bono.
The CMS team is led by Financial Services Regulatory Partner, Tom Callaby, who is supported by Of Counsel, Susann Altkemper, and Associates, Liz Jewitt and Haania Amir.
