ESMA has published a consultation on draft RTS specifying the scope of the consolidated tape for non-equity financial instruments under MiFID II. The draft RTS include rules on: (i) allowing consolidated tape providers to specialise in covering only one asset class or a group of asset classes; (ii) which trading venues and approved publication arrangements (APAs) should be included in the tape mandatorily. ESMA proposes a threshold determined both in terms of the volume and the number of transactions reported; and (iii) the inclusion and removal of trading venues and APAs in the tape. Comments are invited by 5 December 2016.