European Securities and Markets Authority publishes final report and technical standards on consolidated tape providers and data reporting service providers

The European Securities and Markets Authority has published a final report on new and revised technical standards for consolidated tape providers and other data reporting services providers under the Markets in Financial Instruments Regulation.

The report covers the final regulatory technical standards applicable to CTPs on: (i) data quality and reporting (changes to ESMA's original proposal have been made regarding input data formats, CTPs' responsibilities on input data quality and latency requirements); (ii) revenue redistribution and authorization (refinements from ESMA's original proposal have been made to allow greater flexibility to the CTP when applying the revenue distribution scheme); and (iii) clock synchronization (which largely align with ESMA's original proposal). The report also includes revised Technical Standards on the authorization of DRSPs (which were largely as consulted on).

The final report has been submitted to the European Commission, which has three months to decide whether to endorse the proposed amendments to the RTS.

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