ESMA_QA_2827
Status: ✅ Answer Published
Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/2827
Regulatory Context
Regulation : MIFIR
Level 1 Regulation: Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets
Level 2 Regulation: No information available
Level 3 Regulation: No information available
Topic: Data reporting services providers
Subject Matter: Consolidated Tape Provider (CTP)
Question
Submission Date: 01 April 2026
For trading venues subject to the obligations in Article 12 (1) of Commission Delegated Regulation (EU) 2025/1155, which requires business clocks capable of achieving a granularity of 0.1 microseconds, would the dissemination of timestamps at this level of granularity in their existing market data feeds be considered compliant with the requirements in Articles 5 and 6 of Delegated Regulation (EU) 2025/1155 to provide timestamps to the CTPs with a less granular precision of six decimal places?
ESMA Answer
Answer Date: 01-04-2026
The RTS 2025/1155 specifies that the timestamp fields to be transmitted to the CTP must follow the ISO 8601 date‑time format with six decimal places (i.e. ss.dddddd) representing fractions of a second in microseconds, as set out in Table 1 of Annex III, where timestamps must be provided in the format YYYY‑MM‑DDThh:mm:ss.ddddddZ. ESMA confirms that a data contributor will be considered compliant with the timestamp requirements of Articles 5 and 6 of Commission Delegated Regulation (EU) 2025/1155 if it transmits timestamps with at least six decimal (microsecond) digits and follows the ISO 8601 format.
This document was automatically extracted from the ESMA EMIR Q&A database.