ESMA Selects Etrading Software For 5-Year OTC Derivatives Consolidated Tape

According to ESMA, the European Securities and Markets Authority has selected Etrading Software (Netherlands) B.V. as the European Union's first Consolidated Tape Provider for over-the-counter derivatives on July 7. The appointment follows the revised Markets in Financial Instruments Regulation and represents a major implementation of the MiFIR Review.

Once operational, the consolidated tape will aggregate post-trade data from OTC derivatives transactions across the EU into a single source of market information, improving price transparency and enhancing market efficiency. ESMA Executive Director Natasha Cazenave stated the appointment represents "an important milestone in enhancing transparency in OTC derivatives markets" and will contribute to "a more transparent and integrated EU market." Etrading Software will now submit its formal application for authorisation and, once approved, will operate the CTP for an initial five-year period under ESMA's direct supervision.