+Article 27da 2.

Article 27da 2.

For each of the asset classes referred to in paragraph 1, ESMA shall select the applicant that is suitable for operating the consolidated tape on the basis of the following criteria:

(a) 

the technical ability of the applicant to provide a resilient consolidated tape throughout the Union;

(b) 

the capacity of the applicant to comply with the organisational requirements laid down in Article 27h;

(c) 

the ability of the applicant to receive, consolidate and disseminate, as applicable:

(i) 

for shares and ETFs, pre-trade and post-trade data;

(ii) 

for bonds, post-trade data;

(iii) 

for OTC derivatives, post-trade data;

(d) 

the adequacy of the governance structure of the applicant;

(e) 

the speed at which the applicant can disseminate core market data and regulatory data;

(f) 

the appropriateness of the applicant’s methods and arrangements to ensure data quality;

(g) 

the total expenditure needed by the applicant to develop the consolidated tape and the costs of operating the consolidated tape on an ongoing basis;

(h) 

the level of the fees that the applicant intends to charge to the different types of users of the consolidated tape, the simplicity of its fee and licensing models, and compliance with Article 13;

(i) 

for the consolidated tape for bonds, the existence of arrangements for revenue redistribution in accordance with Article 27h(5);

(j) 

the use of modern interface technologies by the applicant for the dissemination of core market data and regulatory data and for connectivity;

(k) 

the appropriateness of the arrangements put in place by the applicant to keep records in accordance with Article 27ha(3);

(l) 

the ability of the applicant to ensure resilience and business continuity, and the arrangements that the applicant intends to put in place to mitigate and address outages and cyber risk;

(m) 

the arrangements the applicant intends to put in place to mitigate the energy consumption generated by the collection, processing and storage of data;

(n) 

where an application is submitted by joint applicants, the necessity, in terms of technical and logistical capacity, for each of the applicants to apply jointly.

1. Ħarsa ġenerali

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Titlu Regolamentazzjoni

1.1 Referenzi

1.2 Rekwiżiti identifikati

1.3 Standards relatati

2. Rekwiżiti identifikati

Rekwiżiti
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3. Standards relatati

Standards
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