Q&A · ESMA

Consolidated Tape Provider (CTP)

Answered

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AI-generated Summary

Data contributors comply with the consolidated tape timestamp requirements in Articles 5 and 6 of Delegated Regulation 2025/1155 if they send ISO 8601 timestamps with at least six decimal places (microseconds), so venues may send more granular timestamps from their existing feeds.

Details

Reference	ESMA_QA_2827
Issuer	ESMA
Published	1 Apr 2026
Answered	1 Apr 2026
Submitted	1 Apr 2026
ESMA topics	Data reporting services providers

Provisions it relates to

Article 27h MiFIR · Organisational requirements for CTPs
MiFIR
ESMA rulebook
MiFIR (whole act)
Explicit reference

Documents it refers to

RTSIn forceExplicit reference
Commission Delegated Regulation (EU) 2025/1155 of 12 June 2025 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council with regard to regulatory technical standards specifying the input and output data of consolidated tapes, the synchronisation of business clocks and the revenue redistribution by the consolidated tape provider for shares and ETFs, and repealing Commission Delegated Regulation (EU) 2017/574
European Commission · 3 Nov 2025 · EUR-Lex
AI summaryRTS on consolidated tapes under the 2024 MiFIR review: specifies the input data contributors must send to the bond and share/ETF CTPs and the output data CTPs disseminate, transmission quality and timestamp format, business clock synchronisation and accuracy for venues, SIs, APAs and CTPs, and the methodology for redistributing share/ETF CTP revenue. Repeals RTS 25 (2017/574); applies from 2 March 2026.