United Kingdom (and EU regulation)

ESMA results of annual transparency calculations for equity and equity-like instruments

On 1 March 2022, the European Securities and Markets Authority (ESMA) published the results of the annual transparency calculations for equity and equity-like instruments, which will apply from 1 April 2022.

The calculations made available include the:

Liquidity assessment as per Articles 1 to 5 of Commission Delegated Regulation 2017/567 (CDR 2017/567).
Determination of the most relevant market in terms of liquidity as per Article 4 of CDR 2017/587 (RTS 1).
Determination of the average daily turnover relevant for the determination of the pre-trade and post-trade large in scale thresholds.
Determination of the average value of the transactions and the related the standard market size.
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.