The Administrator function will be delivered by DataCT, a new independent affiliate of DataBP, under the direction of the CT Plan Operating Committee

DataBP, LLC announced that DataCT has been selected by the Operating Committee of the Consolidated Tape Plan (CT Plan) to serve as its Independent Administrator, pending the outcome of negotiations. The new CT Plan, which is expected to launch in early 2027, will be the unified successor to the three existing consolidated equity market data plans for Tape A, Tape B and Tape C securities in the U.S.

In accordance with the CT Plan’s independence requirements, the Administrator function will be delivered through DataBP’s new independent affiliate, DataCT LLC; established specifically to operate the CT Plan Administrator role. DataCT is structured with its own governance, management, controls, and accountability, and operates independently under the direction and oversight of the CT Plan Operating Committee.

The appointment follows a competitive selection process conducted pursuant to the Securities and Exchange Commission’s (SEC) approval of the CT Plan.

During the transition period, Mark Schaedel, Chief Executive Officer of DataBP, will serve as Acting Chief Executive Officer of DataCT, providing executive continuity and oversight as DataCT completes staffing and operational readiness. This role is transitional and supports the planned handover to a permanent DataCT Chief Administrative Officer in line with CT Plan governance requirements.

To support a disciplined transition and ongoing operational resilience, DataCT has entered into a services arrangement with Deloitte, under which Deloitte will support the transition program and provide ongoing shared services. Deloitte acts solely in a service-provider capacity and does not participate in CT Plan governance, policy-setting, or administrative decision-making.

Through DataCT, the Independent Administrator will be responsible for subscriber onboarding and account management, licensing administration, usage reporting, billing and collections, audit and compliance oversight, revenue allocation administration, public and subscriber communications, and coordination with the Securities Information Processors (SIPs). While SIP processing functions will remain with the existing processors, the new Independent Administrator will be responsible for managing the transition from the current CTA/CQ and UTP Plan Administrators, which are expected to be retired following CT Plan’s go-live.

“This appointment reflects the need for an administrator with deep operational experience and the ability to execute a complex transition without disruption to the market,” said Mark Schaedel, CEO of DataBP and Acting CEO of DataCT. “DataCT was established to provide a neutral, purpose-built administrative vehicle, combining independence, operational rigor, and modernized infrastructure, while remaining fully accountable to the Operating Committee.”

The transition to the new unified CT Plan Administrator will proceed in defined phases, with full operational cutover occurring in accordance with the SEC-approved CT Plan timeline.

Source: DataBP