ESMA selects first EU bond CTP
The European Securities and Markets Authority (ESMA) has selected Ediphy (fairCT) as the first consolidated tape provider (CTP) for bonds in the EU. Over the last six-months, ESMA assessed applications against the criteria list in MiFIR and Ediphy (fairCT) was selected for meeting all requirements and obtaining the highest overall score. ESMA’s executive director, Natasha Cazenave, described the decision as a decisive step towards establishing consolidated tapes in the EU, enhancing transparency within fixed income markets and contributing to the Savings and Investment Union. ESMA is now inviting Ediphy (fairCT) to apply for authorisation, after which it will operate as the CTP for bonds for a period of five years under ESMA’s direct supervision.