fairCT Secures Institutional Backing from Five Major Investors to Deliver Europe's Bond Consolidated Tape
London, 3rd June 2026 - fairCT B.V., the European consolidated tape provider for bonds, today announces that it has secured institutional backing from five firms who have a major stake in supporting the integrity and future growth of European capital markets. Ediphy Group, which ran the winning bid for the CTP designation and is providing the technology platform underpinning the tape, is joined by Barclays, Citadel Securities, Deutsche Bank, TP ICAP and UBS Investment Bank, who together bring a combination of technology infrastructure and institutional market structure expertise.
The European bond market has operated without a consolidated tape since the first Markets in Financial Instruments Regulation introduced post-trade transparency requirements over a decade ago. The revised MiFIR framework, which designates a single CTP for each asset class, creates the conditions for a functioning tape for the first time. The authorisation process, overseen by ESMA, is underway.
fairCT will combine the technology platform provided by Ediphy Group with the institutional backing of firms that are active across European bond markets - as banks, market makers, and venues.
"We are thrilled to have such an exceptional group of institutions backing fairCT from the outset. The combination of leading market participants who have a genuine stake in how the European bond market evolves, alongside the technology platform Ediphy Group has built to our exacting standards, gives fairCT the strongest possible foundation. We are ready to deliver."
- Francesco Cicero, CEO, fairCT
"fairCT was built on a simple principle: European bond market infrastructure should be built for the market, by the market. The backing of this group of quality institutions - firms with a direct stake in the integrity and growth of European bond markets - in combination with Ediphy's cutting-edge technology, is exactly the right solution for the market. That is what the market deserves, and that is what fairCT delivers."
- Chris Murphy, Co-founder and CEO, Ediphy Group
"The consolidated tape promises to enhance transparency, deepen liquidity, improve outcomes for investors, increase competition and make markets more resilient. fairCT is uniquely positioned to help deliver on these objectives, and to further deepen and integrate EU capital markets. Strengthening the foundation of, and catalyzing growth in, the European bond markets will benefit all market participants, including companies seeking to raise capital.”
- Stephen Berger, Global Head of Government and Regulatory Policy, Citadel Securities
What fairCT delivers
fairCT will aggregate post-trade data from all contributing trading venues and approved publication arrangements (APAs) across Europe, producing a single authoritative source of record for European bond trading activity. The tape publishes validated trade data in real time, subject to the regulatory deferral regime, with multi-axis quality scores published alongside each trade. Quality scores tick continuously as market context accumulates - a trade published with limited comparables at submission is reassessed as instrument history builds.
The tape launches when the 80/80 condition is met: connectivity with at least 80% of European trading venues and APAs by number, representing at least 80% of traded volume. fairCT is working hard with all of the data contributors to ensure launch as quickly as possible.
Access
Access to the tape will be available directly via fairCT’s APIs and GUI, or through licensed redistributors. A single subscription covers real-time data, quality scores, historical access, and the web-based interface. Fees are waived for non-commercial users. Pricing will be published at or before ESMA authorisation.
Market participants wishing to pre-register interest may do so by emailing info@fairct.org.
About fairCT
fairCT B.V. is the European consolidated tape provider for bonds, operating under the regulatory framework established by ESMA under MiFIR. fairCT aggregates post-trade data from contributing venues and APAs to provide a consolidated, authoritative view of European bond market activity. The technology platform underpinning fairCT is provided by Ediphy Group.
Press enquiries: press@fairct.org
Technical enquiries: connectivity@fairct.org
Developer portal: fairct-apis.web.app