EuroCTP

In addition to the go-lives of the transparency regimes, the first ever UK consolidated tape, ETS Connect UK, as appointed by the FCA in August twenty twenty-five, started operations on the twenty-second of June twenty twenty-six.

Market participants are now awaiting the launch of Fair CT, the EU bond CTP provider selected by ESMA in July twenty twenty-five, further to the implementation date of Euro CTP, the first EU equity consolidated tape on the fourteenth of September twenty twenty-six.

Since the application dates of the new transparency and deferral regimes using Propellant software, ICMA has conducted extensive analysis of recent live trade data in order to examine the transparency levels of the new regimes.

This follows a deep dive analysis and retrospective modeling of past MiFID data which ICMA conducted during twenty twenty-five as published in ICMA's twenty twenty-five secondary market bond data reports and QR articles.

And there is a lot.

And you sit on the Capital Market Committee of the AFM and Advisory Committee of the Euro CTP.

And you're an associate editor at the Journal of Financial Economics.

You also advised ESMA as a member of its group of economic advisors.