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The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has made available the latest set of double volume cap (DVC) data under MiFID II in the new DVC IT system.
The DVC results are made available:
- in the excel files through the usual DVC Register; and
- in the XML files with publication date 7 February 2022 in the new DVC IT system (Double Volume Cap Public Files).
The excel files remain the official publication during the whole transition period, which is expected to end with the publication of 7 July 2022 included. The DVC Results Files in excel will no longer be published from 5 August 2022. However, the suspension file will continue to be provided in excel.
Yesterday’s updates include DVC data and calculations for the period 1 January 2021 to 31 December 2021 as well as updates to already published DVC periods.
The number of new breaches is 350: 277 ISINs for the 8% cap, applicable to all trading venues, and 73 ISINs 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 February 2022 to 9 August 2022. 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 February 2022, there is a total of 857 instruments suspended.
ESMA does not update DVC files older than 6 months.
