On July 31, the European Securities and Markets Authority (ESMA) published data for the systematic internaliser (SI) quarterly calculations for equity, equity-like instruments, bonds and, for the first time, other non-equity instruments under the revised Markets in Financial Instruments Directive (MiFID II) and Markets in Financial Instruments Regulation.

ESMA published the total number of trades and total volume between January and June 2020 for the purpose of the SI calculations under MiFID II for:

  • 20,204 equity and equity-like instruments;
  • 121,040 bonds; and
  • 5,896 sub-classes of derivatives (including equity derivatives, interest rate derivatives, commodity derivatives, C10 derivatives, emission allowance and derivatives thereof and contracts for difference);
  • ESMA states that SI test should be performed by:
  • August 15 for equity and equity-like instruments;
  • August 15 for bonds; and
  • September 15 for all other non-equity instruments, including those for which ESMA has not published the SI data due to data-related issues.

The new SI data is available here.