UK’s Financial Conduct Authority (FCA) has selected Paris-based Sopra Steria to deliver a new digital regulatory market data processing platform.

The six-year contract includes a new platform to support the FCA’s ongoing regulation of firms, as well as catering to new requirements under the forthcoming Markets in Financial Instruments Directive (MiFID II) – which obliges trading venues and investment firms to submit market data on a wide range of financial instruments to the FCA.

The Chief Operating Officer at FCA, Georgina Philippou, said: “Having reliable, robust and scalable market data processing solutions is critical to our role in regulating capital markets”.

The new platform is meant to bring the FCA greater transparency, and a larger breadth and scope of information on reported transactions.

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