ESMA has launched the first selection procedure for a **Consolidated Tape Provider (CTP) for OTC derivatives**, with applications due by 11 February 2026 and a decision expected by early July 2026. This initiative establishes a critical market infrastructure component to enhance transparency and efficiency in the EU's OTC derivatives market by consolidating post-trade data into a single, continuous electronic stream.
What Changed
The regulatory framework introduces several substantive requirements:
CTP Mandate: The selected provider will consolidate post-trade data from trading venues and other data contributors into a unified electronic stream, enabling market participants to access accurate, timely information.
Data Scope: The CTP will collect and disseminate OTC derivatives data in accordance with ESMA's Final Report on transparency for derivatives, with specific technical standards governing pre- and post-trade tra
What You Need To Do
- *For prospective CTP applicants
- *For trading venues and data contributors
- trade OTC derivatives data to the selected CTP from 1 March 2027
- minute maximum delay for real-time dissemination
- *For market participants
Key Dates
11 February 2026 – Deadline for entities to register and submit requests to participate in the selection procedure DEADLINE
Early July 2026 – ESMA to adopt reasoned decision on selected applicant
1 September 2026 – Mandatory use of new OTC derivatives identifying reference data (Commission Delegated Regulation (EU) 2025/1003)
1 March 2027 – Single application date for all derivatives-related changes: amendments to RTS 2, Package Order RTS, and OTC derivatives CTP data requirements
Compliance Impact
Urgency: HIGH