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Commission Delegated Regulation (EU) 2025\/884: This regulation introduces fees for the supervision of consolidated tape providers (CTPs) by the European Securities and Markets Authority (ESMA). It sets a fixed authorization fee of EUR 100,000 for the first authorization and EUR 50,000 for each subsequent authorization. It also introduces a special regime for the first years of operation, where CTPs pay a fixed annual supervisory fee of EUR 400,000, applied pro rata in the first year of operation. The regulation also clarifies how fees are calculated when a CTP becomes operational during the year and how to handle situations where some CTPs are under the special regime while others are not.<\/p>\n
Commission Delegated Regulation (EU) 2025\/1768: This regulation broadens the scope of Delegated Regulation (EU) 2022\/803 to include consolidated tape providers (CTPs). The original regulation specified rules of procedure for the European Securities and Markets Authority (ESMA) regarding fines and periodic penalty payments for data reporting service providers (DRSPs), but initially only covered approved publication arrangements and approved reporting mechanisms. This amendment ensures that all DRSPs under ESMA supervision, including the newly emerging CTPs, are subject to these rules.<\/p>\n
Commission Implementing Regulation (EU) 2025\/1772: This regulation amends Annexes V, XIV, and XV to Implementing Regulation (EU) 2021\/404 to adjust the lists of third countries, territories, or zones authorized for the entry into the Union of consignments of poultry, germinal products of poultry, fresh meat of poultry, and meat products from poultry, specifically concerning Argentina and the United States. The goal is to protect the animal health status within the Union by adjusting import restrictions based on recent outbreaks of highly pathogenic avian influenza (HPAI) in these countries.<\/p>\n
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<\/p>\n <\/a><\/p>\n This Commission Delegated Regulation (EU) 2025\/884 amends Delegated Regulation (EU) 2022\/930 to include fees for the supervision of consolidated tape providers (CTPs) by the European Securities and Markets Authority (ESMA). The amendment is necessary due to the MiFIR reform, which facilitates the emergence of CTPs in the EU. The regulation introduces supervisory fees for CTPs, consisting of a fixed authorization fee and an annual supervisory fee, to cover the costs associated with their authorization and ongoing supervision by ESMA.<\/p>\n The regulation modifies Delegated Regulation (EU) 2022\/930 by: The most important provisions for practical use are those concerning the fees applicable to CTPs. Specifically, the regulation sets a fixed authorization fee of EUR 100,000 for the first authorization and EUR 50,000 for each subsequent authorization of additional data reporting services. It also introduces a special regime for the first years of operation, where CTPs pay a fixed annual supervisory fee of EUR 400,000, applied pro rata in the first year of operation. The regulation also clarifies how fees are calculated when a CTP becomes operational during the year and how to handle situations where some CTPs are under the special regime while others are not.<\/p>\nCommission Delegated Regulation (EU) 2025\/884 of 7\u00a0May 2025 amending Delegated Regulation (EU)\u00a02022\/930 as regards fees relating to the supervision by the European Securities Markets Authority of consolidated tape providers<\/strong><\/h3>\n
\n* Replacing Article 1 to extend the scope to all data reporting services providers (DRSPs) under ESMA supervision.
\n* Inserting Article 1a to ensure full recovery of supervisory costs from DRSPs.
\n* Replacing Articles 2 and 3 to include specific application, authorization, and annual supervisory fees for CTPs, alongside those for Approved Publication Arrangements (APAs) and Approved Reporting Mechanisms (ARMs).
\n* Inserting Article 3a to detail the calculation of annual supervisory fees for CTPs, including a special regime for the first years of operation based on a fixed annual fee.
\n* Amending Article 4 to include revenues from CTP services and ancillary services in the calculation of applicable turnover and to specify the use of the European Central Bank’s reference rate for currency conversion.<\/p>\n