London and Amsterdam, 3 October, 2024 – FINBOURNE Technology, architects of interconnected functionality and data that enables the investment community to better serve clients, and Propellant Digital, a technology provider of fixed income transparency and trading data analytics, today announced a strategic partnership to bid for the bond Consolidated Tape Provider (CTP) projects in the UK and EU.
This collaboration will see the companies join forces to create a consolidated tape that prioritises data quality to deliver a clear and consistent view of fixed income markets. The partnership aims to provide a consolidated tape that meets the highest quality standards, ensuring a reliable view of the market that both institutional and retail investors can trust.
The combination of Propellant’s platform and FINBOURNE’s scalable infrastructure will ensure minimal build costs, making the partnership’s CTP solution cost-effective for both market participants and end users. With decades of combined expertise in financial markets technology and regulatory frameworks, the partnership is well-positioned to deliver a dependable, scalable and adaptable CTP solution that can evolve alongside market demands.
FINBOURNE Technology’s LUSID platform supports real-time data management and aggregation for some of the world’s largest financial institutions. LUSID’s ability to handle vast datasets ensures efficient processing, reporting and compliance for its clients across the financial sector.
Since 2021, Propellant Digital has been aggregating, normalising, and delivering UK and EU MiFID II transparency content to market participants, including global banks, asset managers, and Trading Venues. Propellant Digital has become a trusted partner for navigating transparency data and enhancing clients’ decision-making and compliance.
The UK bond CTP tender is expected to begin in December 2024, with the EU bond CTP tender starting in January 2025.
Thomas McHugh, CEO and Co-Founder of FINBOURNE Technology, stated:
“This partnership allows us to leverage our combined technical expertise to solve the complex challenges of real-time data aggregation and reporting in bond markets. By integrating Propellant Digital’s technology with our LUSID platform, we are delivering a scalable and regulatory-compliant solution for the upcoming bond CTP tenders.”
Vincent Grandjean, CEO of Propellant Digital, commented:
“Partnering with FINBOURNE Technology brings together our shared strengths and deep expertise in data management and transparency, creating a solution that is primed to meet the future demands of bond markets in both the UK and Europe. With the combination of Propellant’s analytics platform and FINBOURNE’s capabilities, we are well-positioned to deliver a CTP that will bring greater efficiency and transparency to fixed income markets, helping investors and regulators alike.”
Notes to editors:
Key benefits
- Proven technology and fast time-to-market: Propellant Digital’s technology platform has been operational since 2021 and has been successfully consolidating and processing MiFID II post-trade data for over 30 clients.
- Ready-to-scale solution: By integrating with FINBOURNE’s LUSID platform, which is trusted by global asset managers and banks for real-time data management and reporting, the solution is primed to serve all participants. This significantly reduces the time required to be fully operational, delivering a clear advantage in both time-to-market and reliability.
- Collaborative approach: The partnership prioritises active engagement with key stakeholders, including market participants and investors, ensuring that the CTP is designed to enhance transparency and efficiency across the bond market ecosystem.
- Regulatory expertise: Both companies bring deep expertise in financial market infrastructure and regulatory engagement. Their combined experience ensures that the CTP will meet strict compliance standards and provide transparency in alignment with regulatory expectations.
About FINBOURNE Technology
FINBOURNE’s solutions deliver an interconnected network of functionality and data that enables the investment community to better serve clients in a constantly evolving market.
Its investment management solutions and cloud-native data management platform ensure that investment and operations teams can increase revenue, reduce costs, and better manage risk across the investment life cycle.
With operations in North America, the UK and Europe, Asia and Australia, FINBOURNE is trusted by some of the world’s leading financial services firms, including Fidelity International, London Stock Exchange Group, Baillie Gifford and Northern Trust.
For more information on FINBOURNE Technology visit www.finbourne.com or contact sales@finbourne.com.
About Propellant Digital
Propellant Digital is an award-winning technology company specialising in Fixed Income data analytics. Our founders are trusted specialists in transparency and trading data, passionate about making bond, swap and ETF markets more transparent.
Propellant Digital delivers practical, responsive technology that transforms this data into actionable insights. We help global and regional banks, asset managers, quant hedge funds, trading venues, regulators, and industry associations to analyse transparency and trading data in near real-time. Our unique analytics cloud platform leverages the most extensive Fixed Income dataset in the market, providing users with the insights they need to improve trading strategies, streamline workflows, and make informed trading decisions.
For more information on Propellant Digital visit propellant.digital or contact info@propellant.digital
