Venues Deny Esma Accusations over Volume Cap Delay

Delays to a key aspect of Mifid II have triggered tensions between market participants and regulators.

storm
The dark volume caps delay is Mifid II's first major setback

In a press release published on Tuesday evening, the European Securities and Markets Authority (Esma) openly blamed trading venues for the delay, stating that its own systems were ready to receive data for 30,000 equities and equity-like instruments in the context of the double volume-cap (DVC) mechanism. However, only 75 percent of Europe’s trading venues provided their data, Esma said, most of which were incomplete.

The DVC is part of the revised Markets in Financial Instruments Directive and

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe

You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Waterstechnology? View our subscription options

FCA declines to directly regulate market data prices

A year-long investigation by the UK regulator to determine whether competition is hindered in the wholesale data markets has concluded with its decision not to directly regulate much-maligned data pricing and licensing structures.

How GenAI could improve T+1 settlement

As well as reducing settlement failures, researchers believe generative AI can provide investment managers with improved research, prioritization, and allocation resources.

You need to sign in to use this feature. If you don’t have a WatersTechnology account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here