ESMA: MiFIR Transaction Reporting Allows Analysis of EU securities market

November 18, 2020

ESMA today have released a detailed summary of the EU securities market, made possible by the MiFIR reporting regime;

“The new reporting requirements of MiFID II in 2018 expanded ESMA’s monitoring capability of EU financial markets. Today’s statistical report enhances the transparency of European financial markets.” (Steven Maijoor, Chair, ESMA)

 

Essential Statistics;

 

Report chapters;

Section Chapter
Summary Executive summary
Summary Essential statistics
Summary Market monitoring
EU securities markets Introduction
EU securities markets Data collection under MiFID II/MiFIR
EU securities markets ESMA annual reporting
EU securities markets Trading: 430 venues, 216 systematic internalisers
EU securities markets Instruments: >198,000 available for trading
EU securities markets Trading volumes: bonds dominating
Equity markets Instruments: Rise in new instruments since MiFID II
Equity markets Issuance: Highest in UK, DE
Equity markets Trading: Shares dominate EEA trading landscape
Equity markets ETFs: Trading rises
Equity markets Venues: High fragmentation across EEA
Equity markets Trading: Shares more fragmented than ETFs
Equity markets OTC: 1/3 of trading, large trade sizes
Equity markets Transparency: Increase in lit trading and SIs
Equity markets Transparency: Pre-trade waivers use rises
Bond markets Instruments: >50,000 new bonds annually
Bond markets Availability: 3/4 of bonds available issued in EEA
Bond markets Issuance: Corporate bonds most issued instruments
Bond markets Trading: 77% of trading volumes in sovereigns
Bond markets Maturity: shorter maturities for corporate bonds
Bond markets Liquidity: majority of bonds not traded at all
Bond markets Venues: bond trading concentrated in UK
Bond markets Venues: high fragmentation
Bond markets Trading: 76% off-exchange trading
Bond markets Trade size: OTC >150x bigger than on RM
Bond markets Trading: more concentrated on-exchange
Bond markets Liquidity: bond trading activity under waivers
Bond markets Credit quality: liquid bonds with high ratings
Calculation methodology Data collection under MiFID II/MiFIR
Calculation methodology Instruments scope
Calculation methodology Instrument classification
Calculation methodology LEI misreporting
Calculation methodology Data completeness
Calculation methodology Outlier identification and treatment
Transparency calculations Background
Transparency calculations Scope of the article
Transparency calculations Equity transparency
Transparency calculations Liquidity: assessment parameters
Transparency calculations Equity: number of liquid instruments
Transparency calculations Characteristics of liquid shares
Transparency calculations Characteristics of liquid ETFs
Transparency calculations Bond transparency
Transparency calculations Bonds: number of liquid instruments
Transparency calculations Bonds: liquidity assessment parameters
Statistics Securities markets
Statistics Equity markets
Statistics Bond markets

 

Control Now Ltd, founded in 2017, is a provider of Transaction Reporting Assurance software tools to empower market participants to perform oversight of their Regulatory Reporting Processes. Control Now Ltd provide TR Accuracy (Data Quality Assurance) and TR Completeness (Reconciliations) services. Please get in touch for a Free Health Check –