Recital 25

Regulation (EU) 2024/791 of the European Parliament and of the Council of 28 February 2024 amending Regulation (EU) No 600/2014 as regards enhancing data transparency, removing obstacles to the emergence of consolidated tapes, optimising the trading obligations and prohibiting receiving payment for order flow (Text with EEA relevance) · European Union

(25) Competition among CTPs ensures that the consolidated tape is provided in the most efficient way and under the best conditions for users. However, to date, no entity has applied to act as a CTP. It is therefore appropriate to empower ESMA to periodically organise a competitive selection procedure to select a single entity which is able to provide the consolidated tape for each specified asset class for a limited period of time. First, ESMA should initiate the selection procedure concerning the consolidated tape for bonds. Within six months of the initiation of that selection procedure, ESMA should initiate the selection procedure for a CTP for shares and ETFs. Last, ESMA should initiate the selection procedure for the CTP on OTC derivatives within three months of the date of application of the delegated act specifying the appropriate OTC derivatives identifier for transparency purposes and no earlier than six months from the initiation of the selection procedure for a CTP for shares and ETFs.

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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.