FINBOURNE Technology, a software as a service technology provider, has joined the Dutch Authority for the Financial Markets’ (AFM) Innovation Hub.
The firm aims to drive the creation of a Consolidated Tape Provider (CTP), relating to the EU’s Markets in Financial Instruments Directive (MiFID) and its associated regulation (MiFIR) frameworks, as part of the Capital Markets Union plan.
FINBOURNE will share its research into over 50 million transactions from public sources and has broken down over six months of transactions data to identify specific data quality issues.
With the help of its recently launched Design Council, it aims to address these underlying data obstacles to form a transparent, technology-led CTP solution that can deliver capital markets with transparency and visibility of market liquidity.
Designed to support matters regarding supervision and regulation of innovative financial products and services, the regulatory sandbox will provide a platform, encouraging dialogue with retail and market professionals.
Christopher Farrell, COO, FINBOURNE Technology comments: “It is a significant step in our CTP journey, as we tackle the identified issues, to support capital markets with greater transparency and visibility of market liquidity. Leveraging our data management expertise, we believe we can deliver a rigorous technology-led solution for the EU financial community.
“We look forward to this next phase, and to delivering a timely Consolidated Tape that is fit for purpose, meets the needs of all users and supports the European Union’s Capital Markets Union programme.”
