On January 9, 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 DVC public register was last updated in September 2018 (for more information, see the September 14, 2018 edition of Corporate & Financial Weekly Digest).
ESMA has identified a total of 53 breaches during the period from December 1, 2017 to November 30, 2018. Instruments in breach of the caps will be suspended from being traded under the waivers from January 14 until July 13. Due to corrected data received by ESMA, two instruments previously identified as being in breach were incorrectly identified, and the relevant suspensions of trading under the waivers should be lifted.
As of January 9, a total of 625 instruments have been suspended.
ESMA’s announcement in relation to the updated DVC register is available here.