Recital 30

(30) The CTP for shares and ETFs should redistribute part of its revenue generated by the consolidated tape to certain trading venues in accordance with a redistribution scheme based on three criteria. The weighting of those criteria should be specified by means of regulatory technical standards. In order to incentivise small trading venues to opt in to the mandatory contribution of data to the CTP for shares and ETFs, the highest weighting should apply to the total annual trading volume of small trading venues. The second highest weighting should remunerate data contributors that provided initial admission to trading of shares or ETFs on 27 March 2019 or thereafter. Considering the limited number of listings on small trading venues, the CTP should apply the relevant weighting on the total annual trading volume of such venues, whereas for other venues the CTP should apply it to the trading volume pertaining to the shares and ETFs that were initially admitted to trading on 27 March 2019 or thereafter. The lowest weighting of the three criteria should remunerate the trading that has been concluded on a trading system providing pre-trade transparency and that resulted from orders that were not subject to a waiver from pre-trade transparency.

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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.