The EuropeanSecurities and Markets Authority has authorised EuroCTP B.V. to operate as theEuropean Union's Consolidated Tape Provider for shares and exchange-tradedfunds. The move advances the implementation of the bloc's consolidated tapeframework under the Markets in Financial Instruments Regulation.The authorisation is part of ESMA'simplementation of the MiFIR transparency reforms. Finance Magnatespreviously reported that the framework includes consolidated tapes for multipleasset classes, including derivatives.Retail Investors Gain Free EU MarketDataThe consolidated tapefor shares and ETFs will combine pre-trade and post-trade data from multipletrading venues into a single stream, providing market participants with aconsolidated view of trading activity across EU equity markets.Under the framework,retail investors will have free access to the data. ESMA said academics, civilsociety organisations and regulators will also receive the information free ofcharge. Other users will be able to access the data for a reasonable fee anduse it for internal purposes and with clients.Natasha Cazenave,ESMA's Executive Director, described the authorisation as "a key step inthe implementation of the consolidated tape framework." She said bringing"pre-trade and post-trade data from multiple data contributors into a singlestream" would provide market participants with "a comprehensive viewof trading activity" and "support better price discovery."ESMA Sets September Launch PreparationDeadlineESMA has grantedEuroCTP a transition period until 30 September 2026 to complete the operationaland technical arrangements required before the service becomes operational.Once the servicelaunches, EuroCTP will operate the consolidated tape for shares and ETFs forfive years under ESMA's direct supervision in line with the MiFIR framework.ESMA said it expectsdata contributors and other market participants to continue engaging withEuroCTP during the transition period to support the timely launch of theconsolidated tape.This article was written by Tareq Sikder at www.financemagnates.com.