With the deadline now passed for candidates to submit bids, EuroCTP has confirmed its application to become Europe’s first official consolidated tape provider (CTP) for shares and exchange-traded products (ETPs) in a press release.
The bid is part of ESMA’s tender process, launched on 20 June, aimed at selecting a single provider to operate a long-awaited EU-wide consolidated tape. The initiative is seen as a key element of the Capital Markets Union, intended to improve market transparency and accessibility of trading data.
Extensive preparation
EuroCTP said its proposal addresses a broad range of use cases and aims to go beyond the minimum technical and functional requirements laid out in the tender documents. The company declined to disclose further detail, citing confidentiality obligations during the evaluation process.
According to EuroCTP, the proposal draws on input from its Advisory Committee, which includes representatives from across the industry. CEO Eglantine Desautel described the submission as the result of extensive preparation, highlighting the team’s experience with European market infrastructure.
ESMA’s selection process
As the process moves into the evaluation phase, ESMA will assess the submitted proposals before selecting a provider. EuroCTP stated it remains available to respond to any follow-up requests from the authority.
