Thursday September 21 2023
News Source: Global Exchanges
Focus: General - Global Exchanges
Type: General
Country: Russia
On 20th September 2023, Moscow Exchange (MOEX) together with the Bank of Russia and market participants, has developed a list of additional measures to counteract destabilization and high volatility of stock prices.
From September 21st, 2023, a restriction will be introduced on the maximum deviation of the prices of applications submitted by market participants for the purchase of shares and depositary receipts of Russian issuers included in the third level of listing, at a level not exceeding 22% of the closing price of the previous trading day.
In the event of destabilization of share prices, the Exchange will apply the establishment of asymmetric boundaries of the price corridor.
In addition, the mechanism for conducting a discrete auction for shares and depositary receipts is currently being finalized with the aim of earlier transferring trading to a discrete auction mode if there are signs of destabilization. The timing of the introduction of these changes will be communicated additionally.
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