The European Securities and Markets Authority has opened the first selection procedure to appoint a Consolidated Tape Provider (CTP) for shares and exchange-traded funds (ETFs). Interested entities must register and submit a request to participate in the procedure by 25 July 2025. The CTP is intended to consolidate pre-trade and post-trade data from contributors such as trading venues into a single continuous electronic stream. Assessment of certain criteria will draw on European Commission-adopted regulatory technical standards dated 12 June 2025, covering (i) consolidated tape input and output data, business clock synchronisation and revenue redistribution by the CTP for shares and ETFs, and (ii) the obligation to make market data available to the public on a reasonable commercial basis; the contract notice and procurement documents are available via the EU Funding & Tenders Portal. Requests will be assessed against exclusion and selection criteria before successful candidates are invited to submit an application, with Q&A handled through the Portal. ESMA expects to adopt a reasoned decision on the selected applicant by the end of 2025; the successful provider will be selected to operate the CTP for five years and then invited to apply for authorisation with ESMA, after which it will be supervised by ESMA.
European Securities and Markets Authority 2025-06-20
European Securities and Markets Authority launches first selection procedure for shares and ETFs consolidated tape provider with participation requests due 25 July 2025
The European Securities and Markets Authority (ESMA) has initiated the selection process for a Consolidated Tape Provider (CTP) for shares and exchange-traded funds (ETFs). The CTP will consolidate pre-trade and post-trade data into a single electronic stream, with assessments based on European Commission regulatory standards. ESMA aims to finalize the selection by 2025, with the provider operating for five years under ESMA supervision.