ETS Connect Plus report finds strong market consensus on the benefits of the UK bond CT, alongside significant operational and data quality challenges still to resolve
LONDON — Etrading Software's ETS Connect Plus today published Fragmented No More: How the UK Bond CT is Reshaping Fixed Income Data, a new industry report examining how fixed income professionals view the UK bond Consolidated Tape (CT), which went live on 22 June 2026.
The report is based on an independent survey of 100 buy-side and sell-side fixed income professionals, including Heads of Fixed Income, Heads of Credit, Traders and Quants, across the UK, US and Europe, commissioned by ETS Connect Plus and conducted by Pureprofile.
ETS Connect Plus’s survey found:
- 98% of fixed income professionals expect the impact of the UK bond CT to be net positive for their organisation and the broader market
- 74% of those surveyed will consume the CT via a dedicated third-party service, rather than directly from the Consolidated Tape Provider
- 100% of fixed income professionals are either actively consolidating or likely to consolidate their fixed income data vendors as a result of the CT
- 65% of respondents cite integration complexity with existing systems and workflows as their most significant operational challenge in leveraging CT data
“The UK bond Consolidated Tape represents a structural shift that the fixed income market has needed for some time. Our research shows the appetite is there, and the opportunity is real. The tape gives the market something it has never had: a single, authoritative source of post-trade data. The firms that will extract the most value from it are those that go further, ensuring that data is validated, normalised and truly ready to power the decisions that matter.”
Karl Wyborn, Chief Revenue Officer, Etrading Software
ETS Connect Plus is an enhanced data layer built on top of the UK bond Consolidated Tape, delivering validated, normalised post-trade fixed income data in a single, reliable feed and replacing fragmented venue data with one clean, consistent view of UK and EU fixed income activity.
The full report, including detailed findings on planned use cases, budgets, delivery preferences and respondent demographics, is available to download here: https://info.etsconnectplus.com/research-report-uk-bond-consolidated-tape-2026
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About ETS Connect Plus
ETS Connect Plus provides validated, consolidated post-trade UK and EU, delivered in a reliable, single feed and replaces multiple fragmented data feeds with one normalised and clean view of global fixed income activity; saving time, cost, and uncertainty.
Etrading Software is the technology and operations provider behind ETS Connect Plus.
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.
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