Bloomberg, MarketAxess, Tradeweb Step Back from Trade Data Joint Venture

<p>Bloomberg, MarketAxess, and Tradeweb have abandoned
their plans to establish an independent entity that will bid as the
fixed-income consolidated tape provider (CTP) in the European Union and the United
Kingdom. </p><p>This unexpected decision happened as a result of
mounting complexities and uncertainties surrounding the venture, according to a
statement shared by Tradeweb.</p><p>This collaboration was poised to revolutionize the
fixed-income tape provider space in the EU and the UK, according to the trio.
However, in recent months, a series of important developments have steered the
companies away from their joint venture aspirations.</p><p>Expect ongoing updates as this story evolves.</p>

This article was written by Jared Kirui at www.financemagnates.com.