RTS · European Commission
Commission Delegated Regulation (EU) 2025/1155 of 12 June 2025 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council with regard to regulatory technical standards specifying the input and output data of consolidated tapes, the synchronisation of business clocks and the revenue redistribution by the consolidated tape provider for shares and ETFs, and repealing Commission Delegated Regulation (EU) 2017/574
RTS on consolidated tapes under the 2024 MiFIR review: specifies the input data contributors must send to the bond and share/ETF CTPs and the output data CTPs disseminate, transmission quality and timestamp format, business clock synchronisation and accuracy for venues, SIs, APAs and CTPs, and the methodology for redistributing share/ETF CTP revenue. Repeals RTS 25 (2017/574); applies from 2 March 2026.
Details
| Reference | Delegated Regulation (EU) 2025/1155 |
|---|---|
| Issuer | European Commission |
| Published | 3 Nov 2025 |
| CELEX | 32025R1155 |
| In force / applies from | 23 Nov 2025, 2 Mar 2026 |
Provisions it relates to
- Article 22b MiFIR · Data qualityLegal basis
- Article 22c MiFIR · Synchronisation of business clocksLegal basis
- Article 27h MiFIR · Organisational requirements for CTPsLegal basis
Documents that refer to it
- Q&AAnsweredExplicit reference · 90%
AI summaryFor Article 3(2) of Delegated Regulation 2025/1155 on data sent to the consolidated tape, the order timestamp is the one the venue's matching engine applies when the order is registered in the order book, not its arrival at the gateway.
- Q&AAnsweredExplicit reference
AI summaryData contributors comply with the consolidated tape timestamp requirements in Articles 5 and 6 of Delegated Regulation 2025/1155 if they send ISO 8601 timestamps with at least six decimal places (microseconds), so venues may send more granular timestamps from their existing feeds.