When will the FCA's consolidated equity trade tape be operational?

The FCA has stated that the consolidated equity trade tape will be operational by 2027.

What is the purpose of the FCA's new trade tape?

The trade tape aims to provide investors and companies with a clearer view of liquidity in UK equity markets and support listings.

How will the FCA's trade tape benefit UK listings?

The tape is intended to enhance the attractiveness of the UK as a listing destination by offering a more accessible view of market liquidity.

Home / Business and Economy / UK Market Transparency: FCA Launches 2027 Trade Tape

UK Market Transparency: FCA Launches 2027 Trade Tape

19 Nov

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Summary

FCA's equity trade tape for market data will launch by 2027.
The tape aims to improve liquidity perception and support listings.
Consultation on the tape's design and scope is now underway.

UK Market Transparency: FCA Launches 2027 Trade Tape

The Financial Conduct Authority (FCA) has announced that its new consolidated tape for equity trades will be launched by 2027. This initiative is designed to offer a more transparent view of liquidity across UK equity markets. The regulator has initiated a consultation to determine the precise design and scope of this system, seeking input on including post-trade data and attributed best bid and offer prices from various UK trading venues.

The FCA anticipates that this enhanced data transparency will help address the perception that British markets are less liquid compared to international counterparts. By providing a clearer picture of total market liquidity, the consolidated tape aims to support the UK's appeal for companies looking to list and for investors making trading decisions. This comes amid concerns about companies delisting and a lack of new initial public offerings in recent years.