FFMS Amends Regulations for Suspension of Trading
OREANDA-NEWS. On 06 March 2009 was announced, that the Federal Financial Markets Service registered the following internal documents of OJSC RTS:
Methodology for calculation of securities market prices,
Methodology for calculation of the RTS Index.
In compliance with the regulation on activities of the organizer of trading on the securities market approved by FFMS order No 07-102/pz-n as of October 9, 2007 (as amended by FFMS orders No 08-59/pz-n as of 13.11.2008 and No 08-59/pz-n as of 23.12.2008) starting from March 2, 2009 trading will be suspended and resumed according to the following procedure:
Trading in stocks based on indirect orders will be shut down for 1 hour, if the RTS Index goes up or down by 15% as compared to its closing value on the previous trading day and remains there for 10 minutes in succession.
If for ten minutes in succession the RTS Index keeps hitting the 25% up and down threshold (as compared to its closing value on the previous trading day), trading in stocks based on indirect orders will be halted till the end of the current trading day.
Trading in stocks of a specific issue based on indirect orders will be suspended for 1 hour, if for ten minutes in succession there is a 20% up or down movement of the stocks’ market price against their closing price as of the previous trading day.
If for ten minutes in succession there is a 30% increase or decrease in the market price of stocks of a specific issue as compared to their closing price on the previous trading day, trading in stocks of a specific issue based on indirect orders will be closed till the end of the current trading day.
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