FINBOURNE and the Consolidated Tape

At FINBOURNE, our mission is to reduce operational complexity and increase transparency across capital markets.

We’ve spent significant time collaborating with capital markets firms, regulators and industry bodies, to collectively understand the financial data, its quality and how to deliver a resilient and practical consolidated tape to the market.

FINBOURNE and the Consolidated Tape
CEO Open Letter

CEO Open Letter: Continuing on the CTP road…

As we approach the end of 2023, CEO and Co-founder, Thomas McHugh, reflects on FINBOURNE’s Consolidated Tape (‘CT’) journey so far, and our commitment to the ongoing development of this project.

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The Road to the Consolidated Tape

Q3 2025

Q2-Q4 2024

Q2-Q3 2024

Q4 2023

Q3 2025

Operational bond CTPs

Featured Whitepapers

Consolidated Tape

CTP Whitepaper Series: #6 Reference Data – Part 1

CTP Whitepaper Series: #6 Reference Data – Part 1

In our last whitepaper, we outlined a simple framework to capture the interconnected, generic issues affecting “data quality” in order to maximise the efficiency of a CTP. Gathering records from July 2017 to October 2023, FINBOURNE has compiled a database with all historical FIRDS information – some 107,632,766 security records.

Using this data, this paper will take a deeper dive into the issues around reference data for all asset classes, as well as practices to ensure a ‘golden source’ to complement any work on transaction data.

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Consolidated Tape

CTP Whitepaper Series: #5 Data Quality

CTP Whitepaper Series: #5 Data Quality

Previously in this whitepaper series and alongside our work with the Dutch Authority for the Financial Markets (AFM), we have highlighted the data quality issues and basic building blocks that need to be addressed, to maximise the efficiency of a CTP.

In this latest paper, we try to create a singular view of the issues relating to ‘data quality’ and summarise their impact and the challenges market participants and retail investors face, as a result.

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Consolidated Tape

CTP Whitepaper Series: #4 The ABC’s of a CTP

CTP Whitepaper Series: #4 The ABC’s of a CTP

As the process of constructing and refining a consolidated tape (or tapes) gains momentum across the buy-side, sell-side and regulatory bodies, focus is now moving from the data quality issues to the practicalities of how and what will be implemented.

In our fourth whitepaper of this series, we explore ‘The ABC’s of the CTP’, identifying the basic building blocks that need to be addressed to maximise the efficiency of Consolidated Tape data, whilst minimising cost. We also explore how open APIs can increase the connectivity of data, to easily extract its value across the business.

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Featured Blogs

Consolidated Tape

Consultation Paper CP23/33 – The FINBOURNE View 

Consultation Paper CP23/33 – The FINBOURNE View 

On 20th December 2023, the FCA published a Policy Statement for the framework for a UK consolidated tape (“CT” or “CTP”) 

While the Policy Statement (“PS”) was expected, the further consultation was not and there were some aspects that we believe are worth highlighting.

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Consolidated Tape

CEO Open Letter: Continuing on the CTP road… 

CEO Open Letter: Continuing on the CTP road… 

As we approach the end of 2023, CEO and Co-founder, Thomas McHugh, reflects on FINBOURNE’s Consolidated Tape (‘CT’) journey so far, and our commitment to the ongoing development of this project.

Read more

Consolidated Tape

New EU sovereign bond trading data underlines need for careful post-trade deferrals calibration

New EU sovereign bond trading data underlines need for careful post-trade deferrals calibration

The Association for Financial Markets in Europe (AFME) and FINBOURNE Technology have today published the second in a series of new reports, which analyses EU sovereign and public bond trading data consolidated from numerous sources for the period of March to December 2021. This report follows an earlier April 2022 report which focused on the corporate bond trading landscape.

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