The European Securities and Markets Authority (ESMA) announced it’s selected Ediphy (fairCT) as the first consolidated tape provider (CTP) for bonds in the EU.
Natasha Cazenave, ESMA’s executive director, said in a statement: “This step constitutes a key contribution to building the Savings and Investment Union (SIU) and to the further development of capital markets in Europe. Market participants will benefit from a consolidated view of market activity for bonds in the EU, with a variety of use cases to the benefit of all participants in the EU’s fixed income markets.”
Over the last six months, ESMA has assessed the applications received against the criteria listed in the Markets in Financial Instruments Regulation (MiFIR). ESMA has decided to select Ediphy (fairCT) as it meets all the selection criteria and reached the highest overall score on the award criteria.
The fairCT initiative has been catalyzed by Ediphy, a fintech company in the fixed income space. Following authorization, Ediphy (fairCT) will operate the CTP for bonds for a period of five years under ESMA’s direct supervision.