Following the first results published in March (see EUROPE 12902/33), the European Securities and Markets Authority (ESMA) published on Friday 8 April the latest results of the annual transparency calculations for equity and equity-like instruments.
These transparency parameters are to apply from 14 April 2022 until 31 March 2023 at the latest. From 1 April 2023, the next annual transparency calculations for equity and equity-like instruments will apply.
These calculations form part of the Markets in Financial Instruments Directive (MiFID), which regulates investment products and services in order to protect investors and the integrity of financial markets.
The calculations include: - the determination of pre-trade and post-trade large-scale thresholds; - the determination of the average value of the transactions and the related standard market size; - the determination of the average daily number of transactions on the most relevant market in terms of liquidity, relevant for the determination of the tick-size regime.
This publication includes 1,163 equity and equity-like instruments, of which 331 liquid shares. More info at: https://aeur.eu/f/17y (Original version in French by Anne Damiani)