The European Securities and Markets Authority (ESMA) has announced it intends to select a provider to operate the consolidated tape for shares and ETFs by the end of 2025.
The EU regulator said it will launch the selection procedure for this tape in June 2025, with the aim to “adopt a reasoned decision” on its chosen applicant by the end of the year.
ESMA said the beginning of the procedure will be accompanied by the publication of a contract notice and procurement documents on the EU Funding and Tenders Portal.
It added it intends to share additional guidance on the assessment of exclusion criteria in the coming weeks.
The selection process for an ETF consolidated tape will begin after the same process for the bond consolidated tape, which will commence on 3 January 2025 with a view to a provider being selected by early July.
“[The] announcement on the launch dates of the first selection procedures for the CTP for bonds and equities aims to foster a successful competition with multiple solid offers in transparent and fair selection procedures,” ESMA said.
The announcement comes after the markets watchdog published a consultation paper on draft technical standards for the upcoming consolidated tapes in May this year.
ESMA will publish feedback on the consultation in December, with finalised technical standards being submitted to the European Commission.
A review and debate stage on the contents on the tapes will take place in June 2026.
