Bloomberg, MarketAxess, and Tradeweb have abandoned
their plans to establish an independent entity that will bid as the
fixed-income consolidated tape provider (CTP) in the European Union and the United
Kingdom.
This unexpected decision happened as a result of
mounting complexities and uncertainties surrounding the venture, according to a
statement shared by Tradeweb.
This collaboration was poised to revolutionize the
fixed-income tape provider space in the EU and the UK, according to the trio.
However, in recent months, a series of important developments have steered the
companies away from their joint venture aspirations.
Expect ongoing updates as this story evolves.
Bloomberg, MarketAxess, and Tradeweb have abandoned
their plans to establish an independent entity that will bid as the
fixed-income consolidated tape provider (CTP) in the European Union and the United
Kingdom.
This unexpected decision happened as a result of
mounting complexities and uncertainties surrounding the venture, according to a
statement shared by Tradeweb.
This collaboration was poised to revolutionize the
fixed-income tape provider space in the EU and the UK, according to the trio.
However, in recent months, a series of important developments have steered the
companies away from their joint venture aspirations.
Expect ongoing updates as this story evolves.
