Recital 49

(49)It is important to ensure the effective and efficient submission, compilation, analysis and publication of data for the purposes of calculations for determining the requirements for the pre- and post-trade transparency and trading obligation regimes, as well as for the purposes of reference data in accordance with Regulation (EU) No 600/2014 and Regulation (EU) No 596/2014 of the European Parliament and of the Council ¹³ . ESMA, in addition to competent authorities, should therefore be conferred competences to undertake direct data gathering from market participants in relation to pre- and post-trade transparency requirements, as well as their authorisation and oversight of data reporting services providers.