Finbourne Technology and Propellant Digital have forged a strategic partnership to bid for the bond Consolidated Tape Provider (CTP) projects in the UK and EU.
The pair hope that Propellant’s platform and Finbourne’s scalable infrastructure will ensure minimal build costs, making the partnership’s CTP solution cost-effective for both market participants and end users.
The UK bond CTP tender is expected to begin in December 2024, with the EU bond CTP tender starting in January 2025.
Finbourne CEO Thomas McHugh said, “This partnership allows us to leverage our combined technical expertise to solve the complex challenges of real-time data aggregation and reporting in bond markets. By integrating Propellant Digital’s technology with our LUSID platform, we are delivering a scalable and regulatory-compliant solution for the upcoming bond CTP tenders.”
Propellant CEO Vincent Grandjean said, “Partnering with Finbourne Technology brings together our shared strengths and deep expertise in data management and transparency, creating a solution that is primed to meet the future demands of bond markets in both the UK and Europe. With the combination of Propellant’s analytics platform and FINBOURNE’s capabilities, we are well-positioned to deliver a CTP that will bring greater efficiency and transparency to fixed income markets, helping investors and regulators alike.”
Finbourne’s LUSID platform supports real-time data management and aggregation for a number of financial institutions while Propellant Digital aggregates and normalises UK and EU MiFID II transparency content to market participants, including global banks, asset managers, and trading venues.
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