On July 6, the European Securities and Markets Authority (ESMA) updated its public register with the latest set of double volume cap (DVC) data under the revised Markets in Financial Instruments Directive (MiFID II). The update follows last month’s update to the DVC public register (for further details, see the June 15 edition of Corporate & Financial Weekly Digest).
New breaches total 70 equities for the 8 percent cap, which applies to all trading venues, and 37 equities for the 4 percent cap, which only applies to individual trading venues. For those instruments in breach of the caps, suspensions of trading under the waivers apply from July 11, 2018 to January 11, 2019. Due to corrected data received by ESMA, for 13 instruments, previously identified breaches of the 8 percent and 4 percent caps are incorrect and the relevant suspensions of trading under the waivers should be lifted, according to ESMA’s announcement.
As of July 6, a total of 1,024 instruments are suspended.
ESMA’s announcement in relation to the updated DVC register is available here.