UK FCA provides update on the delay to appointment of bond consolidated tape provider

The UK Financial Conduct Authority (FCA) has issued a statement following its September update regarding the legal challenge to its decision to award the bond consolidated tape provider contract. The FCA confirms it has applied to the High Court to lift the suspension on awarding the contract to Etrading Software. If granted, this will allow the FCA to proceed with signing the contract while defending the ongoing legal challenge, which it considers meritless. The FCA emphasises that delivering the tape's benefits promptly is in the public interest and confirms that its formal defence to the legal challenge will be submitted by the end of the week.

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