Insider trading in Europe.
Warsaw, Frankfurt, Paris, London.
Every share purchase and sale by directors of European listed companies, from four regulators and four languages, in one clean feed with buying clusters, company matching and values in euro.
Four regulators,
one feed.
Notifications under MAR article 19 published as ESPI current reports by companies listed on the Warsaw Stock Exchange (GPW and NewConnect). Bourse reads the report text with AI.
The BaFin database of managers’ transactions (Eigengeschäfte von Führungskräften): issuer, person, role, price, volume, venue. Twelve months of history.
“Déclarations des dirigeants” in the AMF BDIF database. Each declaration is a PDF form; Bourse extracts every transaction from it.
“Director/PDMR Shareholding” announcements stored in the FCA National Storage Mechanism (UK MAR). Prices in pence are converted to pounds.
In the API.
curl -H "Authorization: Bearer $BOURSE_KEY" \
"https://api.bourse.pl/v1/eu-insiders?country=DE&type=buy"Filters: country (PL, DE, FR, UK), isin, ticker, company, person, type (buy, sell, other), role, from, to.
curl -H "Authorization: Bearer $BOURSE_KEY" \
"https://api.bourse.pl/v1/eu-insider-clusters?days=30&country=PL"Companies where several directors bought within the window, with total value in euro.
Questions.
What is MAR article 19?
Article 19 of the EU Market Abuse Regulation (and its UK copy) requires persons discharging managerial responsibilities, such as CEOs, CFOs and board members, and people closely associated with them, to notify every transaction in the company’s shares within three business days. The company must publish it.
Is there a threshold?
Yes. The EU threshold is EUR 20,000 a year per person since the Listing Act; some countries, including Germany, apply it already. Smaller dealings may not be reported.
What is a buying cluster?
A company where at least two different directors bought shares within 30 days. Several insiders buying at once is a stronger signal than a single purchase.
How do I get the data?
In the Bourse app (Datasets, European Insiders), through the API at /v1/eu-insiders and /v1/eu-insider-clusters, and in Bourse Agent, which checks European director dealings for every filing it reads.
Sources: KNF (ESPI reports), BaFin, AMF (BDIF), FCA (National Storage Mechanism). Bourse is not affiliated with these regulators. Not investment advice.