Stiri	Stiri afaceri	Stiri companii	Evenimente de afaceri

BVB removes variation limit for international shares category

The Board of the Bucharest Stock Exchange (BVB) on October 21 decided to remove the variation limit for shares listed at the international category and for the financial instruments for which a significant impact of the legal and fiscal changes and of other decisions adopted by authorities is expected.

According to a BVB release, the BVB Board has decided to apply a special procedure (consisting in the expansion of the variation limit in maximum three stages during the trading session) for a financial instrument that reaches the maximum price limits and the conditions for the market's well functioning are no longer met, in exceptional conditions.

The procedure targets the use of a 15-minute Pre-opening procedure on the main market of the symbol and the implementation of some variation limits of +/- 25 percent against the reference price (in the first stage). Given that there is no potential opening price, the limits can be expanded to +/- 35 percent against the reference price (in the second stage) and to +/- 40 percent against the reference price (the third stage).

If there is a potential opening price, the trading is made after the Pre-opening stage, in the Open stage (for the Regular and Odd-Lot markets) with the new variation limits.

Moreover, the BVB Board approved the convening of the Extraordinary General Meeting of the BVB Shareholders, on November 26-27, 2008, to discuss a cut in the total trading commission for the Deal Market from 0.35 percent to 0.18 percent.

Also removed has been the variation limit for the Deal-type markets for the financial instruments traded on the BVB and the minimum allowed value limit for the Deal transactions has been cut from 700,000 lei to 200,000 lei, the minimum accepted value level for the Deal transactions.

On the other hand, the BVB Board has decided to allow the trading, on the regulated market, of the shares issued by the SC Contor Group SA Arad (western Romania) and of the bonds issued by the Local Council of Bacau county town (eastern Romania) and Iasi town hall (eastern Romania).

For a more adequate monitoring of the stock exchange market, the alert level of BET index was updated to -8 percent.

The BVB announced that the amendments brought to the BVB Code - Market Operator are aimed for a better correlation of the current legal stipulations with the concrete situations emerged in practice and with the evolutions on the international markets.

 

Sursa: http://www.rompress.ro

Tags: market percent stage price shares variation bvb limit international bet

Articole similare