Recital 16

(16) Market participants need core market data to be able to make informed investment decisions. Currently, sourcing data about certain financial instruments directly from data contributors requires CTPs to enter into separate licensing agreements with all such data contributors. That process is burdensome, costly and time-consuming. It has been one of the obstacles to CTPs emerging in any asset class. That obstacle should be removed to enable CTPs to obtain the data and to overcome licensing issues. Data contributors should be required to submit their data to CTPs and to use a harmonised format meeting standards that ensure high-quality data when so doing. Data contributors should also provide regulatory data to keep investors informed of the status of the system matching orders, for example in the event of a market outage, and of the status of the financial instrument, for example in the event of suspensions or trading halts. Only CTPs selected and authorised by ESMA should be able to collect data from data contributors in accordance with the mandatory contribution rule. To make the data useful for investors, data contributors should be required to transmit data to the CTP as close to real time as technically possible.

← Recital 15 · All articles · Recital 17 →

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