The European Securities and Markets Authority has awarded Transparent Markets Europe the mandate to operate the consolidated tape for over-the-counter derivatives in the EU, following a competitive tender process launched in January 2026. TME, a non-profit market utility backed by buy-side firms and data infrastructure providers, must now secure formal authorisation from ESMA before commencing…

Etrading Software (ETS), the UK’s consolidated tape provider, has reported that a market participant raised a query on 2 July regarding the notional values of emerging market credit trades found on Bloomberg, which appeared “larger than expected”. Having investigated the issue, ETS Connect UK said in a note to CTP users that the notional values…

US high yield bond issuance is running at elevated levels, underpinned by a structural shift in the composition of primary market activity that is drawing strong investor demand to support AI- and data centre-based activity, even as the broader rate environment remains restrictive. SIFMA data shows total US corporate bond issuance through May 2026 has…

The US Supreme Court’s decision in the Slaughter case has prompted fresh scrutiny of the legal foundations underpinning regulatory policy at the Securities and Exchange Commission and the Commodity Futures Trading Commission, with analysts warning that a range of existing rules could face new vulnerability to legal challenge. The ruling, which addressed the scope of…

The Financial Conduct Authority has proposed removing non-UK business from the scope of its Consumer Duty rules, in a move intended to ease compliance burdens on wholesale financial firms operating in retail markets. The regulator published the proposals as part of a broader effort to clarify how the Consumer Duty applies across distribution chains and…

The body governing global sustainable bond market standards has published new guidance on Climate Transition Bonds and released a series of technical updates, as the $7tn sustainable bond market faces growing regulatory complexity across jurisdictions. The Executive Committee of the Green, Social, Sustainability, Sustainability-Linked Principles and Climate Transition Bond Guidelines — collectively known as the…

Alan Greenspan, who served as chairman of the Federal Reserve for nearly two decades and became one of the most influential central bankers in modern history, has died, the Federal Reserve’s Board of Governors announced on June 22. The Fed said it noted “with deep sadness” the passing of Greenspan, though no details were immediately…

Sir Keir Starmer’s resignation as prime minister has rattled property and mortgage markets, with industry experts warning that recent declines in mortgage rates could stall and calling on his expected successor, Andy Burnham, to abolish stamp duty. Starmer announced his departure on Monday in a statement outside 10 Downing Street, saying every decision he had…

US boutique banks carry far higher capital costs than European universal lenders, with Evercore’s 9.65% WACC running at more than six times the 1.49% recorded by Crédit Agricole, according to new estimates compiled for icorp.co.uk. Estimated WACC by bank (%) Sources: Yahoo Finance; Federal Reserve (FRED); European Central Bank. Equity risk premium: 5.0% (Damodaran, NYU…

Electronic trading in US corporate bonds continued to gain ground in May 2026, with the three main fully electronic platforms collectively handling an estimated $26.6bn in average daily volume against a TRACE investment-grade and high-yield universe of $59.7bn, lifting the panel’s combined share of overall market activity to 44.6% from 43.5% in April. MarketAxess posted…