Publication of the first single volume cap data
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, will publish on 9 October at 18:00h the first results for the “single” volume cap mechanism (VCM).
The new “single” VCM limits at 7% the trading volume under the reference price waiver in the EU, compared to the total aggregated trading volume in the EU over the last 12 months for each equity and equity-like financial instrument. If the limit is exceeded, trading venues will need to suspend the use of the waiver for the concerned instrument for a period of three months.
Trading venues must base their decision to suspend the waiver use on the data published by ESMA under the dedicated VCM webpage.
As a reminder, the previous double volume cap no longer applies.
Further information:
Cristina Bonillo Olivares
Senior Communications Officer
press@esma.europa.eu