TRV Statistical Annex No. 2, 2026 (European Securities and Markets Authority)

Summary

• The statistical annex accompanies ESMA's Report on Trends, Risks and Vulnerabilities No. 2, 2026, published on 10 September 2026.p.1
• The reporting period for the report is 31 December 2025 to 30 June 2026.p.2
• The annex covers market environment, markets, asset management, consumers, infrastructures and services, market-based finance and sustainable finance.p.3
• The ESMA composite indicator of systemic stress focuses on three financial market segments: equity, bond and money markets.p.4
• Cyberattacks on financial sector entities are tracked globally by quarter, with the last data point for EU equity trading at end-March 2026.p.28

Key insights

1. The annex includes crypto-asset market valuation, price performance, trading volume and stablecoin trading volumes for Binance USD, Tether and USD Coin.p.14
2. Active equity funds are screened for potential closet indexing using criteria such as Active Share (AS) below 60% and Tracking Error (TE) below 4%.p.24
3. The number of new securities investors on digital platforms is based on a sample of 235 neo-brokers, neo-banks and other digital only investment platforms.p.26
4. Margin breaches at selected EU CCPs are measured over the past 12 month as a percentage of the total margin held.p.28
5. Initial margins held by EU and UK CCPs are split by house, client gross and client net accounts as of 31st December 2025.p.29
6. ESG index annual returns are measured relative to the STOXX Europe 600, with 2025 data as of end-November.p.37