Regulatory Alerts2022-01-12
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Commission Delegated Regulation (EU) 2022/629 amending liquidity thresholds and trade percentiles for non-equity instruments
The European Commission amends Delegated Regulation (EU) 2017/583 to advance the application of transparency thresholds for bonds from stage S2 to stage S3. Specifically, Article 17 is updated to set the 'average daily number of trades' liquidity criterion at 7 daily trades and the trade percentile for the size specific to the instrument (SSTI) at the 50th percentile. These adjustments apply to bonds, structured finance products, emission allowances, and derivatives, and the regulation enters into force on the twentieth day following its publication in the Official Journal of the European Union.
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