On 16 December 2024, the European Securities and Markets Authority (ESMA) issued a Feedback Statement regarding the criteria to assess consolidated tape provider (CTP) applicants.

In the Feedback Statement ESMA summarises the input received on its initial reflections on the specification of the assessment criteria for the CTP selection procedures, as listed in Article 27da(2) of MiFIR. In particular, ESMA provides a detailed summary of the feedback collected for each of the criteria: (i) governance and organisation requirements; (ii) costs, fees and revenue redistribution; (iii) the ability to process data and dissemination speed; (iv) data quality, modern interface and record-keeping; and (v) resilience, cyber-risk and energy consumption.

Next steps

ESMA states that it will finalise the technical specifications on the expectations for each criterion.

These technical specifications will be made publicly available, together with general tendering specifications on the approach and standardised forms, at the launch of each selection procedure.

The first selection procedure for the CTP for bonds will be launched on 3 January 2025.