Aggregated News From Investment Management Regulators

MIFID II: ESMA ISSUES LATEST DOUBLE VOLUME CAP DATA

Report/Flag

Please complete the required fields.



The European Securities and Markets Authority (ESMA) has updated today its public register with the latest set of double volume cap (DVC) data under the Markets in Financial Instruments Directive (MiFID II).

Today’s updates include DVC data and calculations for the period 1 June 2019 to 31 May 2020 as well as updates to already published DVC periods.

The number of new breaches is 45: 36 equities for the 8% cap, applicable to all trading venues, and 9 equities for the 4% cap, that applies to individual trading venues. Trading under the waivers for all new instruments in breach of the DVC thresholds should be suspended from 10 July 2020 to 9 January 2021. The instruments for which caps already existed from previous periods will continue to be suspended.

In addition, ESMA highlights that none of the previously identified breaches of the caps proved to be incorrect thus no previously identified suspensions of trading under the waivers had to be lifted.

As of 7 July 2020, there is a total of 317 instruments suspended.

Please be aware that ESMA does not update DVC files older than 6 months.

Background

MiFID II introduced the DVC to limit the amount of dark trading in equities allowed under the reference price waiver and the negotiated transaction waiver. The DVC is calculated per instrument (ISIN) based on the rolling average of trading in that instrument over the last 12 months.

Source link

Regulator Information

Abbreviation: ESMA
Jurisdiction: ESMA

Recent Articles

Warning regarding the activities of an entity named Pinecone Tokenised Fund

The Commission de Surveillance du Secteur Financier (CSSF) warns the public of the activities of an entity named Pinecone Tokenised Fund which pretends to...

Deferred tax assets require recognition test

Insurers have to take account of deferred taxes when they prepare their Solvency II balance sheet.

Remittance Advice- B G Freight Shoppe India P Ltd. in the matter of Ram Minerals and Chemicals Ltd.

This news item was originally published by the Securities and Exchange Board of India (SEBI IN). See the article here: Read more

Get the latest from Regulatory.News in your inbox!

×