Recital 19

(19) Due to the varying quality of data, it is difficult for market participants to compare such data, which deprives data consolidation of much of its added value. It is of the utmost importance for the proper functioning of the transparency regime laid down in Titles II and III of Regulation (EU) No 600/2014 and for the consolidation of data by CTPs that data transmitted to the CTPs be of high quality. It is therefore appropriate to require that those data comply with standards that ensure high-quality data in terms of both substance and format. It should be possible to change the substance and the format of the data within a short time to allow for changing market practices and insights. Therefore the requirements for the quality and substance of data should, where necessary, be specified by means of regulatory technical standards and should take into account prevailing industry standards and practices, international developments and standards agreed at Union or international level as well as the advice of a dedicated expert stakeholder group, established by the Commission and tasked with providing advice on the quality and substance of data and the quality of the transmission protocol. ESMA should be closely involved in the work of the expert stakeholder group.

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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.