The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, published today new and revised technical standards for Consolidated Tape Providers (CTPs) and other Data Reporting Services Providers (DRSPs).
The technical standards outlined in the Final Report cover the new rules applicable to CTPs regarding data quality and reporting, revenue redistribution and authorisation, and update the provisions on the authorisation and the organisational requirements for Approved Publication Arrangements (APAs) and Authorised Reporting Mechanisms (ARMs) and on the synchronisation of business clocks across market infrastructures.
ESMA also publishes a feedback statement providing an overview of responses received from stakeholders to the public consultation on the future selection of CTPs. This statement also clarifies certain aspects of the CTP selection procedures.
Today’s publications are a prerequisite to the successful establishment of CTPs in the EU, and to the improved functioning of APAs and ARMs.