The European Securities and Markets Authority (ESMA) has published Questions and Answers covering the onboarding of data contributors to the EU’s Consolidated Tapes (CTs) and the operational rules for Consolidated Tape Providers (CTPs), aiming to provide greater certainty for market participants ahead of the go-live of the bonds and equities CTs. ESMA, working with National Competent Authorities, reiterates that trading venues and Authorised Publication Arrangements are legally required to contribute data to CTPs from the CTs’ go-live. It expects relevant data contributors to engage with the selected CTPs before the CTPs’ formal authorisation so data transmission arrangements are ready in time, including agreeing transmission protocols and completing connectivity and end-to-end testing. Selected CTPs are expected to have arrangements to safeguard the confidentiality and integrity of information exchanged during this preparatory phase. ESMA previously selected fairCT for the bonds CT and EuroCTP for the equities CT, with both authorisation processes ongoing. The selection procedure for a derivatives CT provider is underway, and ESMA expects to announce the selected candidate by July 2026.
European Securities and Markets Authority 2026-04-08
European Securities and Markets Authority publishes Q&As on data onboarding and operational rules for EU consolidated tapes
The European Securities and Markets Authority has issued Questions and Answers on onboarding data contributors to the European Union’s Consolidated Tapes and on operational rules for Consolidated Tape Providers, to give market participants greater certainty ahead of the bonds and equities tapes going live. ESMA reiterates that trading venues and Authorised Publication Arrangements must contribute data from go-live and should engage early with fairCT for the bonds tape and EuroCTP for the equities tape, while selection of a derivatives tape provider continues.