FCA invites applications for a bond consolidated tape provider

The UK Financial Conduct Authority (FCA) has published a tender notice and related tender documents for the appointment of a bond consolidated tape provider (CTP). The tender documents explain the award process and how to participate; the standards and requirements the CTP will need to meet; the licences that the successful bidder will provide to CT users; and the required information that firms must submit as part of the tender process.

The FCA has also published a press release and updated its webpage to reflect the publication of the latest documents. The tender will follow a two-stage process: a pre-bidding stage (to ensure the potential CTP is suitable to be authorised and could meet the minimum service quality requirements) and a bidding stage (where all bidders that fulfil the minimum standard can progress to bid for the role). On timing, bidders will be invited to submit questions about the tender documents until 28 March, which the FCA will respond to by 9 April. Bidders will then submit initial responses to a Procurement Specific Questionnaire and Invitation to Tender questions by 25 April (the first stage). The FCA will review tender question responses and provide written feedback by 23 May. Bidders will then be invited to submit their final bids by 13 June. The FCA will make a decision on which bidders will proceed to a price auction (the e-auction) by 18 July (the second stage). The e-auction will commence at the beginning of August.

Once appointed, the successful bidder must apply for authorisation as a CTP and sign a contract with the FCA (which will be conditional on the bidder's successful authorisation). The FCA aims to make a determination on the authorisation application by the end of 2025.

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