London, UK

ETS Connect UK Publishes Open Source FIX API Specifications for the UK Bond Consolidated Tape

18 December 2025

This release demonstrates continued progress towards improving transparency and data quality in UK bond markets by utilizing open standards already established in the financial services industry.

ETS Connect UK, provider of the UK bond Consolidated Tape (CT), today announced the publication of open source technical specifications for the UK bond CT for data contributors. This release demonstrates continued progress towards improving transparency and data quality in UK bond markets by utilizing open standards already established in the financial services industry.

These draft specifications, which include both an API Specification and Connectivity Guide, provide contributors with the information required to begin preparing their systems for real-time data submission.

The draft specification confirms that the UK bond CT will operate a single, standards-based API and rules out offering additional optional vendor-specific APIs. This approach aims to ensure fair and equal access for all contributors, minimise integration costs, and support a consistent and resilient connectivity framework for the UK bond CT.

Our commitment to a single open-source standards-based API is based on feedback from industry regarding the risks that proprietary APIs, even when offered as an optional extra, can introduce fragmentation, create perceptions of vendor lock-in, and lead to uneven connectivity models across the industry. By working with the FIX Trading Community, we are reinforcing the principle that the consolidated tape should operate as a neutral market infrastructure, accessible to all on equal terms

David Lane, Chief Technology Officer at Etrading Software

Our fixed income consolidated tape working group has been active for several years, working with regulators and our members on the design of the tapes. We are delighted that ETS Connect UK will be using the FIX Protocol and we remain committed to helping to make the UK bond Consolidated Tape a success.

Jim Kaye, Executive Director at FIX Trading Community

As next steps, ETS Connect UK will work closely with the FIX Trading Community to produce a final, standards-based open-source API, to be published on 31 March 2026.

To download the draft Contributor API Specification and Contributor Connectivity Guide visit ETS Connect UK

ETS Connect UK is a subsidiary of Etrading Software Ltd, which has been awarded the mandate for operating the UK bond CT. Etrading Software is a financial technology company focused on providing market participants with robust, transparent, and cost-effective market infrastructure solutions. The company specialises in the design and operation of mission-critical platforms across asset classes, supporting global regulatory initiatives and promoting industry-wide collaboration.

For more information, visit www.ets-connect.co.uk

For media inquiries, please contact Katie Brown:

Katie Brown

Marketing Consultant at Etrading Software