NEWS UPDATE
DATA
Ediphy’ s fairCT lands key institutional backing to drive tape delivery
The five investors- Barclays, Citadel Securities, Deutsche Bank, TP ICAP and UBS Investment Bank – will provide technology infrastructure and market structure expertise for the tape.
EU consolidated tape provider( CTP) for bonds, fairCT, has secured backing from five major institutional investors, providing fresh momentum as the tape draws closer to launch.
Alongside Ediphy, which ran the CTP bid and is providing the technology platform for the tape, Barclays, Citadel Securities, Deutsche Bank, TP ICAP and UBS Investment Bank are set to provide technology infrastructure and institutional market structure experience to support the tape’ s delivery and bolster European market growth.
“ We are thrilled to have such an exceptional group of institutions backing fairCT from the outset,” said Francesco Cicero, chief executive of fairCT.
“ 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.”
The European Securities and Markets Authority( ESMA) is currently engaging in the authorisation process for the
M & A tape, which will go live when an‘ 80 / 80’ condition is met.
Specifically, this means that the launch of the tape is dependent on when connectivity is secured with at least 80 % of European trading venues and APAs by number, which represents a minimum of 80 % of traded volume.
Moreover, the tape will be accessible either through fairCT’ s APIs and GUI or via licensed redistributors, and pricing is set to be published either at or prior to authorisation.
Stephen Berger, global head of government and regulatory policy at Citadel Securities, commented:“ 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 catalysing growth in, the European bond markets will benefit all market participants, including companies seeking to raise capital.”
Marex seals Valcourt acquisition
The deal – initially announced in October 2025 – will bring 700 clients onto Marex’ s platform from banks, independent wealth managers and asset managers.
Marex has completed its acquisition of fixed income market maker Valcourt, more than six months after the deal was initially announced.
Marex entered an agreement to acquire the Genevabased firm in October 2025, with the aim of bringing the Swiss institutional community into its distribution offering.
The move is set to enhance Marex’ s current fixed income business, expanding its client suite and adding new capabilities to its platform, to diversify the firm’ s earnings.
Specifically, by integrating Valcourt, Marex will see 700 clients joining its platform, spanning banks, independent wealth managers and asset managers.
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