The European Securities and Markets Authority (ESMA) has launched the selection process for the OTC derivatives consolidated tape provider (CTP).
Requests to participate must be submitted by 11 February, with ESMA expecting to adopt a “reasoned decision” on the successful applicant by early July.
Sassan Danesh, CEO of Etrading Software commented, “This is a space ETS has been actively preparing for, and we expect to update the market shortly.
“The ESMA tender reflects the EU’s ambition to bring greater transparency to OTC derivatives, an area where data has historically been fragmented and difficult to access. A consolidated tape could materially improve how market participants understand pricing and liquidity for this important asset class.”
Etrading Software was awarded the bond CTP in the UK last year, while the European CTP for bonds was awarded to rival Ediphy.
READ MORE: ETS confirms CTP go-live as Ediphy’s legal battle drags on
Technical standards on OTC derivatives transparency and the tape were finalised in December. Transparency requirements will be introduced on 1 March 2027, before the tape goes live.
In the UK, an updated regime for transparency in bonds and derivatives was introduced on 1 December 2025.
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