E.U. – ESMA MiFID II Double Volume Cap

E.U. – ESMA MiFID II Double Volume Cap

On 6 March 2020, EU ESMA issued updated public register with latest DVC dataset as per MiFID II, calculations for period 1 February 2019 to 1 January 2020 plus other updates.

  • 58 new breaches i.e. 43 equities for 8% cap, applicable to all trading venues and 15 for 4% cap, that applies to individual trading venues.
  • Trading under waivers for all new instruments in breach of DVC thresholds should be suspended from 11 March 2020 to 30 September 2020, instruments for which caps already existed from previous periods will continue to be suspended.
  • None of previously identified breaches were incorrect, so no suspensions were lifted.
  • As of 6 March 2020, there is a total of 384 instruments which have been suspended.