FINBOURNE Technology, a software as a service technology provider, has joined the Dutch Authority for the Financial Markets’ (AFM) regulatory sandbox, to drive the creation of a consolidated tape provider (CTP), as part of the European Union’s MiFID II and Capital Markets Union programmes.
Although the CTP has been on the agenda for years, recent high-level debates and consultation papers have presented conflicting views on both the scope and timing of a CT.
As discussions around the regulatory vehicle intensify across the UK and the EU, FINBOURNE aims to create clarity on these issues by joining AFM’s Innovation Hub, among others.
The AFM supports current initiatives for the development of proof-of-concepts CT’s through its regulatory sandbox on a non-exclusive basis.
FINBOURNE will share its research into over 50 million transactions from public sources and has broken down over six months of transactions data to identify specific data quality issues.
The company said that with the help of its recently launched Design Council, it will address these underlying data obstacles to form a transparent, technology-led CTP solution that can deliver capital markets with transparency and visibility of market liquidity.
“It is a significant step in our CTP journey, as we tackle the identified issues, to support capital markets with greater transparency and visibility of market liquidity,” says Christopher Farrell, COO, FINBOURNE Technology. “Leveraging our data management expertise, we believe we can deliver a rigorous technology-led solution for the EU financial community.”
He adds, “We look forward to this next phase, and to delivering a timely Consolidated Tape that is fit for purpose, meets the needs of all users and supports the European Union’s Capital Markets Union programme.”
©Markets Media Europe 2021