EuroCTP has selected trading data and analytics provider, BMLL, to supply data quality calibration, as part of its preparation for the EU equities and ETFs consolidated tape (CT) tender.
Paul Humphrey
Currently, ESMA is scheduled to decide on the consolidated tape provider (CTP) by the end of 2025.
If EuroCTP is selected as the CTP the collaboration will see BMLL providing the firm with access to its data sets, spanning more than 100 trading venues, with the aim of solidifying the foundations of the tape’s launch, and breaching the historical data gap.
Additionally, the new offering is expected to allow EuroCTP to validate its data quality control designs and calibrate the required thresholds and parameters ahead of go live.
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Speaking to The TRADE, Paul Humphrey, chief executive of BMLL, said: ”In this mandate BMLL is focused on data quality calibration and validation, providing EuroCTP with access to our harmonised level 3, 2 and 1 historical data and analytics and the expertise of our data science team to help test and refine its quality controls ahead of go-live.
“EuroCTP remains the sole applicant for the consolidated tape and will retain responsibility for the product, its governance and its wider technical ecosystem. Our role is to support EuroCTP’s objectives by offering independent, specialised capabilities that can help validate and strengthen the tape’s data quality, transparency and reliability for market participants across Europe.”
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The collaboration is also expected to support EuroCTP in delivering a “fully mature product” by mid-2026, said the firm.
“As of day one, EuroCTP has strived to develop the highest level of quality in the consolidated tape data for the European Union,” asserted Alicia Suminski, principal product manager of EuroCTP.
“By working with such an experienced provider of historical data and analytics, EuroCTP will be making it easier for everyone, from the institutions to everyday investors to access and trust the information they need.”
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Currently, EuroCTP is the only confirmed bidder in ESMA’s selection process, after xyt dropped out in June 2025, citing a lack of necessary financial backing as the driver behind the decision.
EuroCTP is backed by 16 exchanges as shareholders, spanning all 27 EU member states. The Budapest Stock Exchange, SIX, Euronext, Cyprus Stock Exchange, Athens Exchange Group and Nasdaq are among the shareholders.