The European Securities and Markets Authority (ESMA), the regulator and supervisor of financial markets in the European Union (EU), has authorised EuroCTP BV (EuroCTP) to operate as a Consolidated Tape Provider (CTP) for shares and exchange-traded funds (ETFs).
Natasha Cazenave, Executive Director of ESMA, stated: “This authorisation represents a key step in the implementation of the consolidated framework for the trading tape, enhancing the transparency and efficiency of EU equity capital markets. By integrating pre- and post-trade information from multiple sources into a single data stream, the CTP platform for shares and ETFs will provide market participants with a comprehensive view of trading activity. This will contribute to a better price determination and facilitate more informed investment decisions for EU and international investors, thus contributing to the objectives of the Union of Savings and Investments.”
Retail investors, academics, civil society organisations, and regulators will be able to benefit from the data free of charge. Other users will have access to the data upon payment of a reasonable fee and may use it for internal purposes and with their clients.
ESMA has granted EuroCTP a transition period until 30 September 2026, to allow for the completion of the necessary operational and technical agreements for the commencement of the service.
After the transition period, EuroCTP will be responsible for managing the consolidated trading platform for shares and ETFs for a period of five years under the direct supervision of ESMA, in accordance with the MiFIR framework. The five-year period will begin from the date EuroCTP commences its operations.
ESMA encourages data providers and other market participants to maintain a high level of collaboration with EuroCTP to ensure a smooth and timely launch of the consolidated recording activities..
