To increase the effectiveness of equity market microstructure, MOEX establishes the new tick size and Decimals parameter for the following stocksstarting 1st August 2019 in the following trading modes:

  • Main trading mode Т+ ('Т+2' order book)
  • Odd lots trading mode
  • Dark pool trading mode
  • Equities D - Main trading mode Т+
  • Negotiated trading mode(NTM)
  • Equities D (NTM) trading mode
  • NTM with CCP trading mode

The new approach to setting the tick size was approved by the MOEX Securities Market committee.

The methodology includes:

  • The tick size equals (1,2,5)*10N, where N - integer;
  • Increasing the number of price ranges to 25, and the ranges of liquidity - up to 7;
  • For each liquidity range a recommended range price tick sizes in the spread is established;
  • The maximum allowed relative tick size - 1%

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OJSC Moscow Exchange MICEX-RTS published this content on 11 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 July 2019 14:52:08 UTC