Fragmented No More: What 100 Fixed Income Professionals Told Us About the UK Bond CT
The UK bond Consolidated Tape went live on 22 June 2026. It’s the most significant change to UK fixed income transparency in a generation, and the market has been waiting to see how it lands.
Ahead of go-live, ETS Connect Plus commissioned Pureprofile to survey 100 buy-side and sell-side fixed income professionals, Heads of Fixed Income, Heads of Credit, Traders and Quants, across the UK, US and Europe. The result is our new report, Fragmented No More: How the UK Bond CT is Reshaping Fixed Income Data.
The market is broadly welcoming of the tape’s arrival but still working through the operational realities it brings.
Sentiment is strongly positive, 98% of respondents expect the CT’s impact to be net beneficial, and 99% agree it strengthens London’s position as a global financial centre. Respondents to the survey clearly outlined the cost and risk of the current approach with existing datasets. This said, only 25% were fully prepared to adopt the tape at launch. This suggests a real opportunity for early adopters to gain advantage as other market participants catch up
Fragmented data is costing fixed income desks up to 10 hours per week in manual aggregation, 89% are working with data they know contains commercially implausible price records, and 100% are either actively or planning to consolidate their vendor relationships as a direct result of the tape.
The CT does not just change what data is available, it is already reshaping how firms think about their entire fixed income data infrastructure.
The report covers all of this in detail: readiness and awareness, planned use cases (liquidity discovery and best execution evidencing top the list), vendor consolidation, budgets, delivery preferences, and the data quality issues firms are living with today.
Download the full report to see the complete findings.
