What Changed

On 27 July 2026, ESMA authorised EuroCTP B.V. to operate as the Consolidated Tape Provider for shares and ETFs.

Macro photograph showing translucent layered sheets with light diffracting through them in cool neutral tones, creating an abstract pattern suggesting the consolidation and transparency of financial data.
ESMA Authorises EuroCTP as EU Stock Tape Provider

A consolidated tape of this kind brings pre-trade and post-trade data from multiple data contributors into a single stream.

“This authorisation marks a key step in the implementation of the consolidated tape framework, strengthening the transparency and efficiency of EU equity capital markets.”

Natasha Cazenave, ESMA's Executive Director

Highlights

  • EuroCTP B.V. has been authorised as the Consolidated Tape Provider for shares and ETFs.
  • Retail investors, academics, civil society organisations and regulators will get free access to the consolidated tape data.
  • The transition period tied to this authorisation runs until 30 September 2026.
  • EuroCTP's authorised operating period lasts five years, beginning on the date EuroCTP starts its operations.

Who Is Affected

If you are a retail investor, an academic, part of a civil society organisation, or a regulator, you will be able to access the consolidated tape data for free.

Other users of the data will have access for a reasonable fee, and will be able to use it for their own internal purposes and with their clients.

EuroCTP will operate under ESMA's direct supervision.

What To Watch Next

There is a transition period tied to this authorisation, with a deadline of 30 September 2026.

ESMA has said it encourages data contributors and other market participants to maintain a high level of engagement with EuroCTP.

EuroCTP's authorised operating period runs for five years, a period that begins on the date EuroCTP starts its operations.