The European Securities and Markets Authority (ESMA) has published its latest quarterly liquidity assessment for bonds available for trading on EU trading venues, identifying 1,342 bonds as liquid for the purposes of MiFID II transparency. The transparency requirements for bonds deemed liquid under this assessment apply from 17 February 2025 to 18 May 2025. The assessment is based on quantitative liquidity criteria, including daily average trading activity (number of trades and notional amount) and the percentage of days traded per quarter. ESMA updates the bond liquidity assessment quarterly, with the possibility of further updates within a quarter where additional data or corrections are submitted, published via the Financial Instruments Transparency System (FITRS) and applicable the day after publication. The full list of assessed bonds is available through FITRS and the Register web interface, alongside two completeness indicators related to bond liquidity data.
European Securities and Markets Authority 2025-01-31
European Securities and Markets Authority publishes quarterly bond liquidity assessment identifying 1,342 liquid bonds
The European Securities and Markets Authority (ESMA) has released its quarterly liquidity assessment, identifying 1,342 bonds as liquid under MiFID II transparency requirements. These requirements will be effective from 17 February 2025 to 18 May 2025. The assessment, based on quantitative liquidity criteria, is updated quarterly and published via the Financial Instruments Transparency System.