Recital 33

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

(33) The requirement that trade reports are to be made available free of charge after 15 minutes currently applies to all trading venues, APAs and CTPs. For CTPs that requirement prevents the commercial viability of a potential CTP, since certain potential clients could prefer waiting for the free core market data rather than becoming users of the consolidated tape. This is in particular the case for bonds and OTC derivatives, which are in general not traded frequently and for which the data have often kept most of their value after 15 minutes. Therefore, while the requirement to deliver trade reports free of charge after 15 minutes should remain in place for trading venues and APAs, it should be abandoned for CTPs to ensure their commercial viability.

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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.