12 July 2022
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, following the adoption of the European Commission Delegated Act defining the derogation criteria to the principle that data reporting service providers (DRSPs) are subject to ESMA’s supervision, has identified those DRSPs it directly supervises, as well as those derogated entities which remain under the supervision of National Competent Authorities (NCAs) due to their limited relevance for the European Union (EU) market.
On 1 January 2022, ESMA took on its new mandate as direct supervisor of DRSPs. Following the adoption of the Commission Delegated Act in March, ESMA subsequently performed the relevant assessment by considering the cross-border activity and the volumes of transactions reported or published by each individual DRSP. Based on this assessment, is the supervisor of the following DRSPs, that represent almost 99% of the transactions reported by Authorised Reporting Mechanisms (ARMs) and more than 99% of the transactions published by Authorised Publication Arrangements (APAs):
- AQ Metrics Limited (ARM);
- Tradeweb EU B.V. (APA);
- CBOE Europe B.V. (APA);
- UnaVista TRADEcho B.V. (ARM/APA);
- Bloomberg Data Reporting Services B.V. (ARM/APA);
- MarketAxess Post-Trade B.V. (ARM/APA);
- Krajowy Depozyt Papierów Wartosciowych S.A. (ARM);
- Nasdaq Stockholm AB (APA); and
- Euronext Paris SA (ARM/APA).
The remaining ARMs and APAs are derogated from ESMA supervision and remain subject to NCA supervision. The full list can be viewed in the ESMA Registers.