ESMA and the national competent authorities shall designate a contact point for handling all information received from applicants seeking authorisation as an APA or ARM. The contact details of the designated contact point shall be made public and regularly updated on the website of ESMA and of the national competent authorities.
Commission Implementing Regulation (EU) 2025/1157 of 12 June 2025 laying down implementing technical standards for the application of Regulation (EU) No 600/2014 of the European Parliament and of the Council with regard to the standard forms, templates and procedures for the authorisation of approved publication arrangements, approved reporting mechanisms and consolidated tape providers, and related notifications, and repealing Commission Implementing Regulation (EU) 2017/1110
Commission Implementing Regulation (EU) 2025/1157 of 12 June 2025 laying down implementing technical standards for the application of Regulation (EU) No 600/2014 of the European Parliament and of the Council with regard to the standard forms, templates and procedures for the authorisation of approved publication arrangements, approved reporting mechanisms and consolidated tape providers, and related notifications, and repealing Commission Implementing Regulation (EU) 2017/1110
THE EUROPEAN COMMISSION,
Having regard to the Treaty on the Functioning of the European Union,
Having regard to Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/2012(1), and in particular Article 27d(5) and Article 27db(8) thereof,
Whereas:
Article 2(1), point (36a), of Regulation (EU) No 600/2014 defines data reporting services providers (DRSPs) as approved publication arrangements (APAs), approved reporting mechanisms (ARMs) and consolidated tape providers (CTPs). Although those types of entities are engaged in different data reporting activities, Regulation (EU) No 600/2014 provided for a similar authorisation procedure. In consequence, Commission Implementing Regulation (EU) 2017/1110(2) provided for common standard forms, templates and procedures that were indistinctly applicable for the authorisation of all DRSPs and related notifications. Regulation (EU) 2024/791 of the European Parliament and of the Council(3) amended Regulation (EU) No 600/2014 to introduce a distinction between, on the one hand, the authorisation procedure for APAs and ARMs, and, on the other hand, the authorisation procedure for CTPs. To reflect that amendment, Implementing Regulation (EU) 2017/1110 should be repealed and replaced by a new Regulation.
To facilitate communications between an applicant for authorisation as an APA or as an ARM, on the one hand, and the competent authority, on the other hand, the European Securities and Markets Authority (ESMA) and the national competent authorities should designate a contact point and should publish the information on that contact point on their websites.
The organisational requirements for APAs and ARMs are different in some respects. An applicant for authorisation as an APA or as an ARM should only include in its application the information needed for assessing the application for the data reporting service that the applicant intends to provide.
To facilitate communications between an applicant for authorisation as a CTP and ESMA, ESMA should designate a contact point and should publish the information on that contact point on its website.
Article 27da of Regulation (EU) No 600/2014 obliges ESMA to provide for separate selection procedures for a CTP for bonds, for a CTP for shares and exchange-traded funds, and for a CTP for OTC derivatives or relevant subclasses of OTC derivatives. An applicant for authorisation as a CTP should therefore only be required to include in its application the information needed for assessing the application for the asset class with respect to which that applicant intends to operate the consolidated tape.
The processing of personal data for the purposes of this Regulation should be carried out in accordance with Union law on the protection of personal data. In that regard, any processing of personal data performed by national competent authorities in application of this Regulation should be carried out in accordance with Regulation (EU) 2016/679 of the European Parliament and of the Council(4) and national requirements on the protection of natural persons with regard to the processing of personal data. Any processing of personal data performed by ESMA in application of this Regulation should be carried out in accordance with Regulation (EU) 2018/1725 of the European Parliament and of the Council(5).
This Regulation is based on the draft implementing technical standards submitted to the Commission by ESMA.
ESMA has conducted open public consultations on the draft implementing technical standards on which this Regulation is based. ESMA has not analysed potential related costs and benefits as this would have been highly disproportionate to the scope and impact of the draft implementing technical standards concerned.
ESMA has requested the advice of the Securities and Markets Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council(6).
The European Data Protection Supervisor was consulted in accordance with Article 42(1) of Regulation (EU) 2018/1725 and delivered formal comments on 17 March 2025.
To ensure that all provisions setting out standard forms, templates and procedures for the authorisation of DRSPs and related notifications are contained in one Regulation, it is appropriate to include the implementing technical standards to be adopted under Article 27d(5) and Article 27db(8) of Regulation (EU) No 600/2014,
HAS ADOPTED THIS REGULATION:
CHAPTER I STANDARD FORMS, TEMPLATES AND PROCEDURES FOR THE AUTHORISATION OF APAS AND ARMS AND RELATED NOTIFICATIONS
Article 1 Designation of a contact point for applicants for authorisation as an APA or ARM
Article 2 Application form and notification form for applicants for authorisation as an APA or ARM, and ways to submit those forms
1.
An applicant for authorisation as an APA or ARM shall provide ESMA, or, where relevant, its national competent authority with all information referred to in Article 27d of Regulation (EU) No 600/2014 by filling in the application form set out in Annex I to this Regulation.
2.
An applicant for authorisation as an APA or ARM shall provide ESMA, or, where relevant, its national competent authority with information on all members of its management body by filling in the notification form set out in Annex II.
3.
An applicant for authorisation as an APA or ARM shall clearly identify in its application for authorisation which specific requirement set out in Articles 27a to 27i of Regulation (EU) No 600/2014 the applicant refers to and in which document attached to its application that information is provided.
4.
An applicant for authorisation as an APA or ARM shall indicate in its application for authorisation whether any specific requirement set out in Articles 27a to 27i of Regulation (EU) No 600/2014 or Commission Delegated Regulation (EU) 2025/1143(7) is not applicable to the data reporting service that the applicant is applying for.
5.
ESMA and the national competent authorities shall indicate on their websites whether duly copleted application forms, notifications and any related additional information are to be submitted electronically.
Article 3 Acknowledgement of receipt of an application for authorisation as an APA or ARM
Within 10 working days from the receipt of the application for authorisation, ESMA, or, where relevant, the national competent authority shall send electronically an acknowledgement of receipt to the applicant for authorisation as an APA or ARM, including the contact details of the contact point designated pursuant to Article 1.