# Article 8 — Publication requirements for ESMA for the volume cap **Commission Delegated Regulation (EU) 2017/577 · binding · OJ L 87, 31.3.2017 · dated 13 Jun 2016 [in force]** *In force · Consolidated version of 21 June 2026 · Checked against EUR-Lex on 26 Oct 2026 · [Official source](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02017R0577-20260621)* 1. ESMA shall publish the measurements of the total volume of trading for each financial instrument in the previous 12 months and of the percentages of trading under the reference price waiver across the Union in the previous 12 months, in accordance with Article 5(4) of Regulation (EU) No 600/2014, by no later than 22:00 CET on the seventh working day after the end of March, June, September and December of each calendar year. 2. The information referred to in paragraph 1 shall be published free of charge and in a machine-readable and human-readable format as defined in Article 2, point (4), of Regulation (EU) 2023/2859 of the European Parliament and of the Council and as specified in Article 13(5) of Delegated Regulation (EU) 2017/567. 3. Where a financial instrument is traded in more than one currency across the Union, ESMA shall convert all volumes into euros using average exchange rates calculated on the basis of the daily euro foreign exchange reference rates published by the European Central Bank on its website in the previous 12 months. ESMA shall use those converted volumes for the calculation and publication of the total volume of trading and of the percentages of trading under the reference price waiver across the Union as referred to in paragraph 1.