Frequently asked questions

fairCT is the European Bond Consolidated Tape provider selected by ESMA.

Based in Amsterdam, fairCT is funded by a group of financial industry stakeholders, each of whom are committed to improving access to trade data and promoting transparency within the framework of the Consolidated Tape programme in Europe. The Bond Consolidated Tape is the official aggregate trade repository in Europe, and will include a combination of real-time and historical trade reports.

fairCT has the unambiguous objective of building a CT under a true utility model, delivering a high quality tape at the lowest possible cost. We are committed to returning any excess revenue to stakeholders via lower fees or redistributions over time, based on the costs and reasonable margins of building and operating the tape. It is our belief that a fair outcome for all market participants can only be achieved by making access to the data as affordable and convenient as possible, truly democratising access to this essential source of market data.

The fairCT initiative has been catalysed by Ediphy, a leading Fintech company in the Fixed Income space. Ediphy has been involved with the Consolidated Tape topic since the onset of MiFID in 2018, engaging with the European Commission and ESMA, trade bodies and expert groups, to promote best practices and identify existing challenges and solutions aimed at improving access to transparency data and investor confidence.

fairCT has participated in both the European and UK tenders, winning the selection for the European Bond Tape in July 2025. fairCT is currently seeking authorisation from ESMA while actively engaging data contributors and building the necessary technical infrastructure, and is committed to implementing and launching the EU CT as quickly as technically possible. Please refer to the updated CT Timeline section for the latest details.