Past Double Cap Management Events

Please consult the ESMA webpage for the official list of Instruments subject to Single Volume Caps.
As a reminder, due to limitation on volume caps, the following type of order is forbidden :
Mid-point orders (with the exception of ‘Sweep’ orders) below LIS size - These orders will be rejected automatically at order entry level. Sweep orders, once accepted, will be immediately directed to the Central Order Book, without possibility to match at the Mid-point

As a reminder, in addition to “Mid-point orders below LIS size, former regulation “Double Volume Caps” forbade Central Order Book – Cross orders (“Guaranteed cross”) & Negotiated transactions below LIS size as well. Since “Single Volume Caps” entered into force as of October 2025, solely “Mid-point orders below LIS size” order type restriction remains applicable.
New and only applicable threshold related to “Single Volume Caps” is referred on the website as “EU trading Venue level (7%)”, while former “Double Volume Caps” ones are referred to as “Euronext level (4%)” and “EU trading Venue level (8%).
Further information available on Esma website.