Trading venues must provide ESMA with identifying reference data for financial instruments admitted to trading, traded on a trading venue, where the issuer has approved trading, or where admission has been requested. For OTC derivatives identifying data shall be based on a globally agreed unique product identifier and other relevant identifiers; OTC derivatives within Article 26(2) not covered by that rule shall be provided by designated publishing entities. Reference data must be electronic and standardised before trading commences, updated on change, published immediately by ESMA and made available without undue delay to competent authorities.

ESMA shall establish arrangements to ensure receipt, appropriate data quality, prompt transmission to competent authorities and mechanisms to resolve delivery or quality issues. ESMA will develop draft regulatory technical standards on data standards, formats, supply and update methods, technical measures and reporting dates, taking account of international developments and consistency with Regulations (EU) No 648/2012 and (EU) 2015/2365, for Commission adoption by delegated acts. ESMA may suspend reporting where specified conditions are met, must notify competent authorities beforehand, and the Commission may specify suspension conditions; by 29 June 2024 the Commission shall adopt delegated acts specifying identifying reference data for OTC derivatives for the stated transparency and Article 26 purposes.