The European Securities and Markets Authority (ESMA) has chosen Etrading Software (Netherlands) B.V. to provide the consolidated tape for over-the-counter (OTC) derivatives. This decision is a significant move to increase transparency in OTC derivatives markets, as required by the Markets in Financial Instruments Regulation (MiFIR). ESMA's Executive Director, Natasha Cazenave, highlighted this as a crucial milestone towards establishing consolidated tapes in the EU and achieving MiFIR review objectives. The consolidated tape is expected to foster a more transparent and unified EU market, ultimately benefiting investors and market participants. Etrading Software was selected after ESMA thoroughly evaluated its application based on MiFIR criteria. The company demonstrated its capability to meet ESMA's standards for data quality, resilience, and the distribution of aggregated market data. ESMA will now invite Etrading Software to apply for authorization promptly. Upon receiving authorization, Etrading Software will manage the OTC derivatives consolidated tape for a period of five years under ESMA's direct oversight. This initiative aims to realize the goals of the MiFIR Review regarding market transparency.