ESMA update on consolidated tape provider for bonds

The European Securities and Markets Authority (ESMA) has issued a press release in preparation for the launch of a consolidated tape for bonds. The selection process for a provider is in motion and ESMA intends to decide on the selected applicant by early July, at which point data contributors should engage with the selected provider in relation to practical and technical matters. There will then be an expedited authorisation process for the selected provider, and when the application is complete, ESMA will determine whether authorisation is to be granted within three months. ESMA also acknowledges that it has the ability to grant a transition period if requested by the applicant, if needed. In terms of the current expected timeline, authorisation of the bond consolidated tape provider is expected in Q3/4, with the launch of the first selection for an equity consolidated tape provider in June, and the launch of the first selection for an over-the-counter derivatives consolidated tape provider in Q1 2026.

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