In response to the Financial Conduct Authority’s (FCA) consultation on proposals to introduce a UK equity consolidated tape to help increase capital investment and liquidity in equity market, April Day, Managing Director, Head of Capital Markets at the Association for Financial Markets in Europe (AFME), said:
"Consolidated, transparent data through the tape is crucial to highlighting the true scale of Europe’s available liquidity and we welcome progress on this in the UK. We hope that the intended 2027 implementation will go to plan and that the final construct can provide a viable tape with meaningful data provision to users that can contribute to further growing UK equity markets.
The commercial viability of the equities CT will be essential to its ultimate success. It is therefore critical that the CT includes pre-trade data. A CT with real-time continuous data available to five levels of book depth and with full attribution will be more attractive to users and more likely to become economically self-sustaining."
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