ESMA selects Etrading Software (Netherlands) B.V. as Consolidated Tape Provider for OTC derivatives
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has selected Etrading Software (Netherlands) B.V. as the Consolidated Tape Provider (CTP) for over-the-counter (OTC) derivatives. This constitutes an important step in improving transparency for OTC derivatives markets under the Markets in Financial Instruments Regulation (MiFIR).
Natasha Cazenave, ESMA’s Executive Director, said:
“Today’s decision represents an important milestone in enhancing transparency in OTC derivatives markets. It is also an important step towards establishing consolidated tapes in the EU and delivering on the objectives of the MiFIR Review.
The consolidated tape for OTC derivatives will contribute to a more transparent and integrated EU market, benefiting investors and market participants across the European Union”.
ESMA selected Etrading Software (Netherlands) B.V. following a comprehensive assessment of its application against the criteria set out in MiFIR. The selected applicant has demonstrated its ability to meet ESMA’s expectations, including in relation to data quality, resilience, and the dissemination of consolidated market data.
Next steps
ESMA will invite Etrading Software (Netherlands) B.V. to apply for authorisation without delay. Once authorised, the CTP will operate the consolidated tape for OTC derivatives for a period of five years under ESMA’s direct supervision.
Further information:
Cristina Bonillo
Senior Communications Officer
press@esma.europa.eu