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ESMA Issues Latest Double Volume Cap Data

Date 07/08/2020

The European Securities and Markets Authority (ESMA), the EU’s securities and markets regulator, 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 July 2019 to 30 June 2020 as well as updates to already published DVC periods.

The number of new breaches is 56: 33 equities for the 8% cap, applicable to all trading venues, and 23 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 12 August 2020 to 11 February 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 August 2020, there is a total of 309 instruments suspended.

ESMA does not update DVC files older than 6 months.