ICMA responds to the FCA Consultation CP23/33 on Payments to Data Providers
ICMA submitted today its response to the UK FCA Consultation on Payments to data providers and forms for Date Reporting Services Providers (CP23/33)
Key messages:
- ICMA welcomes the introduction of a UK consolidated tape for bonds to improve bond market transparency, thereby reducing the cost of accessing bond data, with the view that this could lead to a greater market participation, improving overall liquidity and market efficiency, and ultimately strengthening the UK’s position in the international wholesale debt capital markets.
- In line with ICMA’s response to FCA CP23/15 ‘The Framework for a UK Consolidated Tape’, ICMA members do not see any requirement for the CTP to contribute to data providers’ connectivity cost recovery and therefore do not agree with the three options proposed by the FCA under CP23/33.
- Further details can be found in ICMA’s response under this link.
