On 7 July 2019, the European Securities and Markets Authority (ESMA) published a statement regarding the updated results of the annual equity transparency calculations published on 21 June 2019.

ESMA states that it is currently investigating  an issue with the updated calculations which appears to affect the results for shares whose main pool of liquidity is in a third country while having less than one transaction a day on average on the most relevant market in the EU.

ESMA will revert in due course with a revised set of results for the relevant shares.

In the meantime, ESMA wishes to clarify that European trading venues are until further notice not bound by the tick sizes deriving from the ESMA publication of 21 June 2019 for third-country shares with an average daily number of transactions lower than one on the most relevant market in the EU. All those shares should be considered third country shares for which the trading venue with the highest turnover is located in a country outside the EEA.

The updated results apply from 8 July 2019.