Anna Carrier’s Post

🔔 As I said in my previous post about #MiFIR and ESMA consultation, there was more to come - and here it is! On 23 May ESMA published its second package of draft Level 2 measures for #MiFIR, this time focusing on rules for #CTPs, and shedding some light on the assessment criteria for the #CTP selection procedure. A must-read for the prospective applicants, the package includes: ➡ Draft RTS on input and output of data of CTPs: the draft covers provisions applicable to the equity and bonds CTP, and addresses specifically: ◻ Quality of transmission protocols, including aspects relating to their performance, reliability, security and compatibility ◻ Quality and substance of data, including the MiFIR requirement of transmission of data “as close to real time as technically possible” ◻ Data quality measures and enforcement standards. ➡ Draft RTS on the revenue distribution scheme of CTPs: the draft sets out further details for the three criteria foreseen by #MiFIR for the participation in the revenue distribution scheme for equity #CTP, including the relevant weightings and methodology. ➡ Draft RTS on the synchronization of business clocks: ESMA sets out further specifications regarding the level of accuracy to which business clocks are to be synchronized, and considers the application of clock synchronization requirements to new entities subject to this requirement (SIs / DPEs / APAs). ➡ Draft RTS/ITS on the authorisation and requirements for DRSPs: ESMA proposes updates to Commission Delegated Regulation (EU) 2017/571 (RTS 13) and draft a new RTS on CTP authorisation, together with its related ITS. ➡ Criteria to assess CTP applicants: ESMA explains the selection procedure and sets out the relevant assessment criteria, grouped into five thematic categories, together with its expectations on each of them. 📅 Deadline to provide comments: 28 August 2024. https://lnkd.in/e_9tTutb

MiFIR review: ESMA consults on Consolidated Tape Providers and their selection

MiFIR review: ESMA consults on Consolidated Tape Providers and their selection

esma.europa.eu

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