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the following articles are inserted: ‘Article 27da Procedure for the selection of a single CTP for each asset class 1. For each of the following asset classes, ESMA shall organise a separate selection procedure for the appointment of a single CTP for a period of five years: ESMA shall initiate the first selection procedure pursuant to the first subparagraph, point (a), by 29 December 2024. ESMA shall initiate the first selection procedure pursuant to the first subparagraph, point (b), within six months of the initiation of the selection procedure pursuant to the first subparagraph, point (a). ESMA shall initiate the first selection procedure pursuant to the first subparagraph, point (c), of this paragraph within three months of the date of application of the delegated act referred to in Article 27(5) and no earlier than six months from the initiation of the selection procedure laid down in the first subparagraph, point (b), of this paragraph. ESMA shall initiate subsequent selection procedures pursuant to the first subparagraph in time to allow the provision of the consolidated tape to continue without disruption. 2. For each of the asset classes referred to in paragraph 1, ESMA shall select the applicant that is suitable for operating the consolidated tape on the basis of the following criteria: 3. The applicant shall provide all the information necessary to enable ESMA to confirm that the applicant has put in place, at the time of the application, all the necessary arrangements to fulfil the criteria laid down in paragraph 2 of this Article and to comply with the organisational requirements laid down in Article 27h. 4. Within six months of the initiation of each selection procedure referred to in paragraph 1, ESMA shall adopt a reasoned decision selecting the applicant that is suitable for operating the consolidated tape and inviting it to submit without undue delay an application for authorisation. 5. Where no applicant has been selected pursuant to this Article or authorised pursuant to Article 27db, ESMA shall initiate a new selection procedure within six months of the end of the unsuccessful selection or authorisation procedure. Article 27db Procedures for granting and refusing applications for authorisation of CTPs 1. The applicant for authorisation referred to in Article 27da(4) shall provide all the information necessary to enable ESMA to confirm that the applicant has put in place, at the time of the application for authorisation, all the necessary arrangements to fulfil the criteria laid down in Article 27da(2). 2. ESMA shall assess whether the application for authorisation is complete within 20 working days of receipt of the application. Where the application for authorisation is not complete, ESMA shall set a deadline by which the applicant is to provide additional information. After assessing the application for authorisation as complete, ESMA shall notify the applicant accordingly. 3. Within three months of receipt of a complete application for authorisation, ESMA shall assess the compliance of the applicant with this Title. It shall adopt a reasoned decision granting or refusing authorisation and shall notify the applicant accordingly within five working days of the date of adoption of such reasoned decision. A decision granting authorisation shall specify the conditions under which the applicant is to operate. 4. Following authorisation pursuant to paragraph 3, ESMA may grant the applicant authorised as a CTP a transition period to put in place the necessary operational and technical arrangements. 5. The CTP shall comply at all times with the organisational requirements laid down in Article 27h and with the conditions laid down in the reasoned decision authorising the CTP referred to in paragraph 3 of this Article. A CTP that is no longer able to comply with those requirements and conditions shall inform ESMA thereof without undue delay. 6. The withdrawal of the authorisation referred to in Article 27e shall take effect only after a new CTP has been selected and authorised for the asset class concerned in accordance with Articles 27da and 27db. 7. ESMA shall develop draft regulatory technical standards to determine: ESMA shall submit those draft regulatory technical standards to the Commission by 29 December 2024. Power is delegated to the Commission to supplement this Regulation by adopting the regulatory technical standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010. 8. ESMA shall develop draft implementing technical standards to determine standard forms, templates and procedures for the information to be provided pursuant to paragraph 1 of this Article and the information to be included in the notifications referred to Article 27f(2) as regards CTPs. ESMA shall submit those draft implementing technical standards to the Commission by 29 December 2024. Power is conferred on the Commission to adopt the implementing technical standards referred to in the first subparagraph in accordance with Article 15 of Regulation (EU) No 1095/2010.’ ; bonds; shares and ETFs; and OTC derivatives or relevant subclasses of OTC derivative. the technical ability of the applicant to provide a resilient consolidated tape throughout the Union; the capacity of the applicant to comply with the organisational requirements laid down in Article 27h; the ability of the applicant to receive, consolidate and disseminate, as applicable: for shares and ETFs, pre-trade and post-trade data; for bonds, post-trade data; for OTC derivatives, post-trade data; the adequacy of the governance structure of the applicant; the speed at which the applicant can disseminate core market data and regulatory data; the appropriateness of the applicant’s methods and arrangements to ensure data quality; the total expenditure needed by the applicant to develop the consolidated tape and the costs of operating the consolidated tape on an ongoing basis; the level of the fees that the applicant intends to charge to the different types of users of the consolidated tape, the simplicity of its fee and licensing models, and compliance with Article 13; for the consolidated tape for bonds, the existence of arrangements for revenue redistribution in accordance with Article 27h(5); the use of modern interface technologies by the applicant for the dissemination of core market data and regulatory data and for connectivity; the appropriateness of the arrangements put in place by the applicant to keep records in accordance with Article 27ha(3); the ability of the applicant to ensure resilience and business continuity, and the arrangements that the applicant intends to put in place to mitigate and address outages and cyber risk; the arrangements the applicant intends to put in place to mitigate the energy consumption generated by the collection, processing and storage of data; where an application is submitted by joint applicants, the necessity, in terms of technical and logistical capacity, for each of the applicants to apply jointly. the information to be provided pursuant to paragraph 1; the information to be included in the notifications referred to in Article 27f(2) as regards CTPs.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-13 · Text as adopted (Official Journal); later amendments are not incorporated in this text.