No changes for Data Reporting Services Providers following ESMA’s 2025 assessment of derogation criteria
19 November 2025
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has finalised its annual assessment of the derogation criteria for Data Reporting Services Providers (DRSPs), based on data from the 2024 calendar year.
Based on the 2025 assessment, the supervisory designations established in 2024 remain unchanged. The ten DRSPs currently supervised by ESMA continued to exceed the thresholds, while those under NCA supervision remained below them. Accordingly, no changes to supervisory responsibilities are expected in 2026 or 2027.
Next Steps
Following the notification of the outcome of the assessment, ESMA will continue to monitor developments and engage with NCAs and supervised entities to ensure a smooth and transparent supervisory process.
Background
ESMA is responsible for the authorisation and supervision of DRSPs, except for those subject to a derogation where their activities are of limited relevance for the internal market; and it conducts an assessment annually to ensure that supervisory responsibilities reflect the evolving relevance of DRSPs in the EU market.
Further information:
Cristina Bonillo
Senior Communications Officer
press@esma.europa.eu