ESMA_QA_2824
01/04/2026
Subject Matter
Consolidated Tape Provider (CTP)
    What status must be reported when an instrument is reported for the first time to the CTP?
    ESMA Answer
    01-04-2026

      The initial status of individual financial instruments is reported for the first time from data contributors to the CTP in the following cases:

      (i) when the activities of the CTP start (i.e. the status should be ACTV, unless the instrument is already suspended or halted); and

      (ii) when an instrument is newly admitted to trading (i.e, the status should be ACTV); 

      In essence, the initial message establishes the baseline status that the CTP will disseminate until a subsequent change is reported. Please find below some examples:

      Instrument Publication venue Status prior to go live T-1 CTP go live date: T …/… other phase changes sent throughout T T+1 T+N
      ABC MIC1 ACTV MIC1 sends a message with Trading phase set to ‘SOAU’ and status set to ‘ACTV’ MIC1 sends a message with Trading phase set to new values MIC1 sends a message with Trading phase set to ‘SOAU’ MIC1 sends a message with status set to ‘RMOV’
      CTP N/A CTP sends a message with Trading phase set to ‘SOAU’ and status set to ‘ACTV’ CTP sends a message with Trading phase set to those values and status set to ‘ACTV’ CTP sends a message with Trading phase set to ‘SOAU’ and status set to ‘ACTV’ CTP sends a message with status set to ‘RMOV’
      DEF MIC2 SUSP MIC2 sends a message with status set to ‘SUSP’ No messages sent MIC2 sends a message with Trading phase set to ‘SOAU’ and instrument status set to ‘ACTV’  
      CTP N/A CTP sends a message with status set to ‘SUSP’ CTP sends a message with status set to ‘SUSP’ CTP sends a message with Trading phase set to ‘SOAU’ and status set to ‘ACTV’  
      Status: Answer Published

      Additional Information

      Level 1 Regulation
      Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets
      Topic
      Data reporting services providers