UK MiFID transparency calculations

All the results of the MiFID transparency calculations for the UK are available in the FCA Financial Instruments Transparency System (FCA FITRS) accessible via the dedicated FCA Registers portal.

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Annual transparency calculations for equity and equity-like instruments – 8 March 2024

The latest results of the annual transparency calculations for equity and equity-like instruments for the UK are now available.

The information published contains:

• the liquidity assessment
• the trading venue which is the most relevant market in terms of liquidity
• the average daily turnover for the purpose of identifying the size of orders that are large in scale
• the average value of transactions for the purpose of determining the standard market size
• the average daily number of transactions for shares and depositary receipts on most relevant market in terms of liquidity for the purposes of the tick size regime

These results are available on FCA FITRS both in XML files and in the register web interface and will apply from 1 April 2024 for a 12-month period.

Annual transparency calculations for non-equity instruments – 13 May 2024

We have published the latest results of the 2024 annual transparency calculations for non-equity instruments for the UK.

For bonds, the information published contains: 

• the pre- and post-trade size specific to the instrument threshold
• the pre- and post-trade large in scale threshold

The transparency thresholds are provided in Excel format at a sub-class level for liquid sub-classes of derivatives and at a bond type level for bonds. View the corresponding Excel files. For bonds the information is also provided at an ISIN level in FCA FITRS both in XML files and through the register web interface. 

The annual transparency results for bonds are applicable from 1 June 2024 until 31 May 2025.

For non-equity instruments other than bonds the information published contains:

• the liquidity assessment for a number of sub-classes
• the pre- and post-trade size specific to the instrument threshold
• the pre- and post-trade large in scale threshold

The annual transparency results for non-equity instruments other than bonds are applicable from 1 June 2024 until 31 May 2025.

Quarterly liquidity assessment for bonds – 8 August 2024

The latest quarterly liquidity assessment for bonds for the UK is now published. The results will be applicable from 16 August 2024 to 15 November 2024 and are available in the FCA FITRS.