ESMA has initiated the selection process for the European bond consolidated tape provider (CTP).
Potential candidates must submit requests to participate in the first selection process by 7 February. These will then be assessed against ESMA’s exclusion and selection criteria, which were finalised in November.
READ MORE: ESMA clarifies CTP exclusion criteria documents
Requests and applications will remain confidential after being opened.
Participants meeting requirements will be invited to submit their CTP application, with the successful candidate expected to be announced in early July. Following authorisation by ESMA, this entity will operate the CT for five years.
Currently, contenders for the European tape provider include Etrading Software, Finbourne Technology and Propellant Digital’s Bondtape, and TransFICC.
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