Consultation opens
29/10/2026
29/10/2026
Consultation closes
17/12/2026
We're consulting on how the equity consolidated tape provider (CTP) should share income with data contributors, and enhanced operational incident reporting requirements for all CTPs.
We’re introducing an equity CT to bring together and distribute UK trading data in a single, comprehensive feed.
The UK bond CT collates UK trading data for bonds. It was launched in June 2026.
In July 2026, we confirmed that the equity CTP must share a portion of its income with data contributors. We're now proposing rules on how that income should be split between them.
Our proposals aim to, over the long term, better align incentives between data contributors and the equity CTP in implementing a high-quality equity CT.
We're also proposing to extend enhanced operational incident reporting requirements to cover all CTPs. This will build on existing requirements to help make sure that significant operational incidents are reported to us consistently.
This consultation is relevant to:
This consultation closes on 17 December 2026.
You can respond using our online response form[3] or by emailing [email protected].
We'll review all responses and use them to help finalise our rules.
We plan for the equity CT to start operating in 2027 or early 2028.
There are 2 key stages to implementing income sharing arrangements.
We will specify what share of income is to be paid to data contributors in our 5-year contract (concession agreement) with the equity CTP.
We sought views on the appropriate metric and percentage in our Call for Input in July 2026. (See chapter 11 of CP26/31[4].)
We will confirm our requirements in a Feedback Statement (FS) in early 2027.
We will also set rules and guidance in our Handbook on how the share of income specified in our contract is to be split among data contributors.
These rules would apply irrespective of the metric and percentage of income sharing specified in the concession agreement.
This CP makes proposals and seeks views on this topic.
We expect to publish a Policy Statement on this in spring 2027.
By early 2027, we also plan to publish:
In July 2026, we published our Policy Statement confirming the fundamental aspects of a UK equity consolidated tape (CP26/31[6]). This set a high-level requirement that the equity CTP must share a portion of its income with data contributors.
The proposals on operational incident reporting build on final rules and guidance setting out requirements for reporting operational incidents and material third-party arrangements in PS26/2[4]. These rules come into force on 18 March 2027.
Together, these proposals support our objectives for market integrity and competition, and our strategic priority to support economic growth, by helping ensure access to consolidated UK trade data is straightforward and affordable.
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