ESMA Makes New Bond Liquidity Data Available11.02.2020
The European Securities and Markets Authority (ESMA), the EU’s Securities Markets Authority, has today made available new data for bonds subject to the pre- and post-trade requirements of the Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR) through its data register.
ESMA published the latest quarterly liquidity assessment for bonds available for trading on EU trading venues. For this period, there are currently 499 liquid bonds subject to MiFID II transparency requirements.
▪️ via #ESMA data ®️egister
▪️ 499 liquid bonds
▪️ 2 completeness indicators
▪️ transparency requirements for bonds will apply 16 Nov. 2020 – 15 Feb 2021https://t.co/SFiZLqTsby pic.twitter.com/vJyG5Cd4XS
— ESMA – EU Securities Markets Regulator 🇪🇺 (@ESMAComms) October 30, 2020
ESMA’s liquidity assessment for bonds is based on a quarterly assessment of quantitative liquidity criteria, which includes the daily average trading activity (trades and notional amount) and the percentage of days traded per quarter. ESMA updates the bond market liquidity assessments quarterly. However, additional data and corrections submitted to ESMA may result in further updates within each quarter, published in ESMA’s Financial Instruments Transparency System (FITRS), which shall be applicable the day following publication.
As usual, ESMA is also publishing two completeness indicators related to bond liquidity data.
The transparency requirements for bonds deemed liquid today will apply from 16 November 2020 to 15 February 2021.
An estimated 200 SGX-listed fixed income securities already meet the criteria.
IOSCO supports global efforts to improve the resilience of non-bank financial intermediation.
Steps have been taken to enhance the resilience of the U.S. Treasury market.
The number of participating banks has grown from 10 to more than 30.
The new sustainability bond framework extends the pathways for broader ESG initiatives.