STRASMORE/EXPLORE 2,249 QUERIES

What ESMA measured during the 2020 bans (published estimates, % versus the control group)

Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-09-15, from Short Selling Bans Explained: US, Germany, EU.

as of ranking 4×2read in context →
What ESMA measured during the 2020 bans (published estimates, % versus the control group) — 4 rows by 2 columns, computed from US exchange, SIP and OPRA data.
measurepublished_effect_pct
Bid-ask spread8
Amihud illiquidity5.8
Volume traded-14.9
Volatility-8.4
Rows × columns
4 × 2
Computed
Completeness
No missing values
Source
US exchange, SIP and OPRA market data
Licence
Strasmore terms · free, no signup
Formats
JSON · CSV · the SQL below

What each column holds

Column definitions for What ESMA measured during the 2020 bans (published estimates, % versus the control group), derived from the stored result.
ColumnTypeRangeNotes
measure text 4 distinct values
published_effect_pct number -14.9 to 8 percent

Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on , and the query below is what returned them.

the exact SQL behind every number 
SELECT
    measure,
    published_effect_pct
FROM
(
    SELECT 'Bid-ask spread' AS measure, 8.0 AS published_effect_pct, 1 AS display_order
    UNION ALL
    SELECT 'Amihud illiquidity', 5.8, 2
    UNION ALL
    SELECT 'Volume traded', -14.9, 3
    UNION ALL
    SELECT 'Volatility', -8.4, 4
)
ORDER BY display_order

Run your own version of this

The same 22 years of US equities and 12 years of options data are queryable in SQL or plain English. A free account runs 100 queries a day and takes no card.

More from this analysisShort Selling Bans Explained: US, Germany, EU
Every outright short selling ban since 2008, dated to the order that set it table 9×5 → Peak multiple: highest print divided by the last close before the squeeze ranking 5×4 → Documented short-seller losses, billions, as estimated at the time table 3×5 → Market value swing: capitalization before the squeeze and at the peak, billions table 2×5 → Where AAPL trades printed, June 17 2026, 10:00 to 11:30 ET ranking 17×3 → Venues publishing a bid in AAPL over one half hour, July 16 2026 ranking 16×4 → See all 2,249 queries →