UK bond consolidated tape reaches full market coverage

ETS Connect UK, the appointed Consolidated Tape Provider for UK bonds, said the UK bond consolidated tape has reached full market coverage after the last trading venue and Approved Publication Arrangement (APA) within the tape’s regulatory scope connected to the production environment this week. Contributor coverage is now 100% by notional trade value, up from 98% at the tape’s 22 June 2026 launch.

With the final contributor live, every UK trading venue and APA required under the tape’s remit now submits post-trade reports to the service. Users of the tape receive a single consolidated view of post-trade activity across the UK bond market rather than collecting reports separately from multiple venues and publication arrangements.

ETS Connect UK said contributor coverage rose from 98% at launch to complete coverage in roughly two months and that all contributors are actively sending trade data to the live service. The consolidated tape aggregates trade reports so market participants and regulators can access a unified post-trade dataset.

The provider said applications for the Consolidated Tape Provider’s Accredited Partner Programme will open on 17 August 2026. The programme is designed to allow firms to support clients within a shared framework set by the CTP. ETS Connect UK outlined an operational roadmap that begins with service stabilisation and will be followed by a nine-month optimisation phase.

During the optimisation period ETS Connect UK plans to introduce additional data quality checks and refine existing algorithms using the growing historical dataset gathered since launch. The provider said these measures aim to improve data reliability and the practical usefulness of the consolidated feed for firms that rely on post-trade transparency.

Sassan Danesh, ETS Connect UK chief executive, described the level of coverage as ‘remarkable’ and credited the commitment and collaborative work of the data contributors.

Contributor coverage is measured by notional trade value to reflect the economic weight of participating sources rather than by counting the number of contributors.