ESMA Releases Latest Quarterly Bond Liquidity Report
The European Securities and Markets Authority (ESMA) has published its newest quarterly assessment of bond liquidity across EU trading venues. This report helps investors and market participants understand the current state of bond market liquidity.
For this period, ESMA identified 1,346 bonds as liquid under the MiFID II transparency rules. The assessment is based on key data such as the average daily trading volume and the number of trading days in the quarter.
The updated bond liquidity data is available now through ESMA’s Financial Instruments Transparency System (FITRS) and the ESMA Register online. ESMA also provides indicators that show the completeness of the liquidity data submitted.
The transparency rules for bonds classified as liquid will be effective from 18 August to 16 November 2025. These updates ensure better market transparency and support informed trading decisions.
ESMA continues to publish this report quarterly, maintaining clear and accessible information for all market stakeholders.
Disclaimer
This article contains a summarised and editorially processed version of the official release by the European Securities and Markets Authority (ESMA) dated 1st August 2025. This publication by LPA Lucht Probst Associates is intended solely for informational purposes, with due regard to intellectual property rights and publication conditions. All rights to the original content remain with ESMA.
