ESMA launches selection of CTP for OTC derivatives

The European Securities and Markets Authority (ESMA) has announced the launch of its first selection procedure for a consolidated tape provider (CTP) for over-the-counter (OTC) derivatives. ESMA encourages interested entities to register and submit their requests to participate by 11 February. The CTP aims to enhance transparency and efficiency in the OTC derivatives market by consolidating post-trade data from trading venues and other contributors into a single, continuous electronic stream. This consolidated view of market activity is intended to support more accurate and timely information access, improve price discovery and contribute to EU initiatives such as the Savings and Investment Union.

The CTP will collect and disseminate OTC derivatives data in line with ESMA's proposals set out in its final report on transparency for derivatives. Regarding next steps, ESMA will assess the requests it receives against the applicable exclusion and selection criteria and invite successful candidates to submit full applications. Any queries during the application phase will be handled through the EU Funding & Tenders Portal, which also has the contract notice and procurement document available. A reasoned decision on the selected CTP is expected by early July, after which the chosen provider will operate the OTC derivatives tape for a five‑year term, subject to ESMA authorisation and supervision.

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