On 24 September 2025, the Financial Conduct Authority (FCA) published a brief but consequential update regarding its plans to appoint a bond consolidated tape provider.
The FCA states that it has received a legal challenge to its decision awarding the contract for the consolidated tape provider. As a result, the FCA cannot enter into the contract with the successful bidder as quickly as planned.
Meanwhile the FCA remains committed to the process, reiterating that the initial procurement was conducted through a fair and competitive two stage process.
The regulator intends to move forward with the contract as soon as possible and will continue engagement with market participants to prepare for the deployment of the tape.