The European Securities and Markets Authority (ESMA) has published a consultation paper containing the draft regulatory technical standards (RTS) that it is required to draft under Article 65(8)(c) of the Markets in Financial Instruments Directive (recast) (MiFID II).
Section 2 of the consultation paper introduces the topic. Section 3 addresses the issue of specialisation of the consolidated tape (CT), whereas section 4 discusses which trading venues and approved publication arrangements (APAs) should be mandatorily included in the CT. Finally, the consultation paper ends with section 5 which discusses the inclusion of new trading venues and APAs to the CT as well as the removal of a trading venue or APA from the CT.
The deadline for comments on the consultation paper is 5 December 2016. On the basis of the responses to the consultation paper, ESMA will finalise the draft RTS and submit the final report to the European Commission for endorsement.
View ESMA consults on consolidated tape for non-equity products, 30 September 2016