ESMA publishes data for quarterly bond liquidity assessment and the systematic internaliser calculations

ESMA has released quarterly bond liquidity data and systematic internaliser (SI) calculation data for equity, bond, and non-equity instruments. This assessment determines which bonds are considered liquid and subject to MiFID II transparency requirements. The latest assessment identified 1,355 liquid bonds. The liquidity assessment is based on trading activity, percentage of days traded, and additional data submitted to ESMA. The full list of liquid bonds is available through the Financial Instruments Transparency System (FITRS) and the Register web interface. Transparency requirements for liquid bonds apply from August 19 to November 17, 2024. The SI calculation data covers trading activity from January 1 to June 30, 2024, for over 175,000 instruments. Investment firms must perform the SI test by August 15, 2024. The data is available through FITRS. The data for equity and equity-like instruments includes OTC trading reported to ESMA.