ESMA: EU market for ETDs worth approximately €200 trillion
10 April 2018 Paris
Image: Shutterstock
The EU market for exchange-traded derivatives (ETDs) is worth approximately €200 trillion, with an average daily turnover of €1.3 trillion, according to the European Securities and Markets Authority (ESMA).
ESMA released the results in its 2018 report on trends, risks and vulnerabilities (TRV), which analysed data received from European trading venues for the H2 2016.
According to ESMA, the data also showed high concentration both in terms of products and trading venue location.
Elsewhere, it indicated interest rate derivatives represent more than 80 percent (€166 trillion) of total EU volumes, with the UK being the largest market followed by Germany.
The TRV also found that ETD products were more standardised than in the over-the-counter (OTC) market.
The ESMA study is a first analysis of the ETD market based on data used for the the second Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR) transitional transparency calculations.
Under MiFID II, ETDs cover asset classes such as equity, credit, interest rate and commodity derivatives.
ESMA has also stated that within five working days of the end of April, it shall publish the trading volumes and calculations regarding the double volume cap (DVC) under MiFID II and the MiFIR.
ESMA released the results in its 2018 report on trends, risks and vulnerabilities (TRV), which analysed data received from European trading venues for the H2 2016.
According to ESMA, the data also showed high concentration both in terms of products and trading venue location.
Elsewhere, it indicated interest rate derivatives represent more than 80 percent (€166 trillion) of total EU volumes, with the UK being the largest market followed by Germany.
The TRV also found that ETD products were more standardised than in the over-the-counter (OTC) market.
The ESMA study is a first analysis of the ETD market based on data used for the the second Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR) transitional transparency calculations.
Under MiFID II, ETDs cover asset classes such as equity, credit, interest rate and commodity derivatives.
ESMA has also stated that within five working days of the end of April, it shall publish the trading volumes and calculations regarding the double volume cap (DVC) under MiFID II and the MiFIR.
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