The European Securities and Markets Authority (ESMA) updated last week the double volume cap (DVC) register on its website under the Markets in Financial Instruments Directive (MiFID II). The DVC report includes the DVC data for 2019 and updates on already published periods.
The agency reports 66 new DVC breaches – 55 equities for the 8% cap for all trading venues and 11 equities for the 4% cap, that apply for individual trading venues. Breaches in DVC threshold for new instruments should result in 6 months suspension of trading, until 12 August 2020. Those instruments for which caps already existed from previous periods will continue to be suspended. As of the date of the report, there are 406 instruments suspended in total.
ESMA also highlighted that none of the previously identified breaches was found incorrect and thus no waivers had to be lifted.