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ESMA ISSUES LATEST DOUBLE VOLUME CAP DATA

07 September 2020

The European Securities and Markets Authority (ESMA), the EU’s securities and markets regulator, has today updated  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 August 2019 to 31 July 2020 as well as updates to already published DVC periods.

The number of new breaches is 37: 26 equities for the 8% cap, applicable to all trading venues, and 11 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 11 September 2020 to 10 March 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 September 2020, there is a total of 288 instruments suspended.

ESMA does not update DVC files older than 6 months.