ESMA Q&A 2824 — Q&A — Consolidated Tape Provider (CTP) [Answer Published]

Consolidated Tape Provider (CTP)

Question

What status must be reported when an instrument is reported for the first time to the CTP?

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Answer

The initial status of individual financial instruments is reported for the first time from data contributors to the CTP in the following cases:

(i) when the activities of the CTP start (i.e. the status should be ACTV, unless the instrument is already suspended or halted); and

(ii) when an instrument is newly admitted to trading (i.e, the status should be ACTV);

In essence, the initial message establishes the baseline status that the CTP will disseminate until a subsequent change is reported. Please find below some examples:

Instrument

Publication venue

Status prior to go live T-1

CTP go live date: T

.../... other phase changes sent throughout T

T+1

T+N

ABC

MIC1

ACTV

MIC1 sends a message with Trading phase set to ‘SOAU’ and status set to ‘ACTV’

MIC1 sends a message with Trading phase set to new values

MIC1 sends a message with Trading phase set to ‘SOAU’

MIC1 sends a message with status set to ‘RMOV’

CTP

N/A

CTP sends a message with Trading phase set to ‘SOAU’ and status set to ‘ACTV’

CTP sends a message with Trading phase set to those values and status set to ‘ACTV’

CTP sends a message with Trading phase set to ‘SOAU’ and status set to ‘ACTV’

CTP sends a message with status set to ‘RMOV’

DEF

MIC2

SUSP

MIC2 sends a message with status set to ‘SUSP’

No messages sent

MIC2 sends a message with Trading phase set to ‘SOAU’ and instrument status set to ‘ACTV’

CTP

N/A

CTP sends a message with status set to ‘SUSP’

CTP sends a message with status set to ‘SUSP’

CTP sends a message with Trading phase set to ‘SOAU’ and status set to ‘ACTV’

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Source: ESMA original document