In our consultation response, we underscore the need for a system that bolsters market engagement and informed trading, extending beyond mere cost considerations. We voice concerns over the FCA's proposal potentially discouraging the provision of trading services, which could lead to decreased transparency and greater market fragmentation. Our submission sets forth essential criteria to evaluate the efficacy of a consolidated tape, advocating for a fair equilibrium between the interests of data users and producers, as well as a just and competitive pricing structure. We scrutinize the proposal's potential impact on market dynamics, underscoring the necessity of a system that provides equitable compensation to data creators and promotes a competitive, transparent market landscape.