meta_id 3027116

On April 1, 2026, the European Securities and Markets Authority (ESMA) published Questions and Answers (Q&As) on the onboarding of data contributors to the European Union's Consolidated Tapes (CTs) and operational rules for Consolidated Tape Providers (CTPs). The guidance aims to increase certainty for market participants ahead of the go-live of the EU's CTs for bonds and equities. ESMA reminds trading venues and Authorised Publication Arrangements of their legal obligation to contribute data to CTPs from the CTs' go-live. The authority expects data contributors to engage with selected CTPs ahead of formal authorisation to ensure data transmission setup is operational before launch. This cooperation includes agreeing on transmission protocols and conducting connectivity and end-to-end testing. ESMA expects selected CTPs to implement appropriate arrangements to safeguard the confidentiality and integrity of information received during the preparatory phase. In 2025, ESMA selected fairCT as the provider of the EU's bonds CT and EuroCTP as the provider of the equities CT. Both CTPs are currently undergoing authorisation processes. The selection procedure for the derivatives CT provider was launched in January 2026, with ESMA expecting to announce the selected candidate by July 2026. Market participants should consult ESMA's online Q&A tool for detailed guidance. Data contributors should begin preparatory engagement with their respective CTPs immediately to ensure readiness for the CTs' go-live. **Reference:** European Securities and Markets Authority (ESMA) – Consolidated Tapes Q&As