Code Set NameData TypeDescriptionPedigree

Market condition. In the context of ESMA RTS 8 it is important that trading venues communicate the condition of the market, particularly stressed and exceptional, in order to provide incentives for firms contributing to liquidity.



The condition of the market in the absence of stressed or exceptional conditions.

Added EP229 [Normal]


In the context of ESMA RTS 8 Article 6: Trading venues shall set out the parameters to identify stressed market conditions in terms of significant short-term changes of price and volume. Trading venues shall consider the resumption of trading after volatility interruptions as stressed market conditions.

Added EP229 [Stressed]


In the context of ESMA RTS 8 Article 3: Due to (a) a situation of extreme volatility; (b) war, industrial action, civil unrest or cyber sabotage; (c) disorderly trading conditions, e.g. due to technical issues; (d) unavailability of risk management facilities.

Added EP229 [Exceptional]
Added EP229

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