ESMA’s RTS define the operational standards for aggregation and comparison of aggregate position data across TRs, which is important to assess risks associated to those markets.

ESMA’s RTS ensure that the market activity in derivatives traded both on and off venue is correctly identified and aggregated. The RTS are setting out several additional requirements to better specify and enhance the data quality made available publicly by TRs and also to allow the publication of certain aggregated figures that are required by MiFID II and the Benchmarks Regulation.

In order to ensure that the end users are able to aggregate and compare the aggregate position data published by TRs, ESMA’s RTS establish general rules by defining:

• the frequency and timeliness of publication;

• the general technical aspects of aggregation for the purposes of publication; and

• the details of aggregations for the purposes of benchmarks’ and commodities’ thresholds