approved last week, to bolster the City of London as a global financial centre, particularly after being largely cut off from the European Union due to Brexit.
The FCA aims to have the regulatory framework in place by 2024 and would run a competitive tender for a bonds market tape first, followed by stocks. Later this year, the watchdog will consult on further reforms to the transparency of bond and derivatives markets to aid delivery of trading data alongside a tape.on updating its securities trading rules that includes introducing tapes for stocks and bonds despite heavy pushback from exchanges in Europe.
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