EuroCTP (European Consolidated Tape Provider) B.V.[3] is a joint venture of 15 bourses,[4][5] that on 19 December 2025 was selected by the European Securities and Markets Authority (ESMA) to provide the first consolidated tape (CT) for equities (shares and ETFs) in the European Union (EU) for a period of five years, under the Markets in Financial Instruments Directive (MiFIR).[6][7] This forms part of the European Commission's Capital Markets Union.[8]
In the EU, financial markets are highly fragmented, with trading occurring across multiple exchanges and alternative trading venues. This makes it difficult for investors to get a clear picture of market activity, particularly in real-time. The EU had been lagging behind the US in this regard, where consolidated tapes have been available for equities since the 1970s.
Bourses had initially signalled reluctance towards the Commission's CT plans.[10]
On 16 February 2023, EuroCTP was announced.[11]
On 23 August 2023, EuroCTP was incorporated, and the chair of its supervisory board, Jorge Yzaguirre Scharfhausen, was announced.[7]
On 5 December 2023, the leadership of EuroCTP was announced.[2]
ESMA tender competitors included:
On 19 December 2025, EuroCTP was selected by ESMA to provide the EU’s first CTP for equities (shares and ETFs) for a period of five years.[17]
The shareholders are represented in the supervisory board of EuroCTP by:[18]
EuroCTP is a joint venture of the following 14 bourses, which operate regulated markets in all 27 member states[19] of the European Union (EU), as well as European Free Trade Association (EFTA) members Switzerland, Norway and Iceland (the two latter of which form part of the European Economic Area):[4]
