ESMA selects Etrading Software as OTC derivatives CTP
ESMA selected Etrading Software (Netherlands) B.V. as the Consolidated Tape Provider for OTC derivatives under MiFIR.
The selection marks a key step in delivering post-trade transparency for OTC derivatives markets under MiFIR. Market participants will need to adapt data consumption, best execution analytics, and transparency reporting to incorporate the new consolidated tape once operational.
Materially reshapes OTC derivatives transparency and best execution monitoring across EU capital markets.
Action Required
Trading, reporting and market data teams should assess connectivity, data licensing and reference architecture implications of the new OTC derivatives CTP.
Establishes market infrastructure that will underpin transparency, TCA and surveillance for EU OTC derivatives.
Plan onboarding to the OTC derivatives CTP; refresh best execution, TCA and surveillance controls to leverage consolidated tape data.
“ESMA has selected Etrading Software (Netherlands) B.V. as the Consolidated Tape Provider (CTP) for over-the-counter (OTC) derivatives, an important step in improving transparency for OTC derivatives markets under MiFIR.”