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Changes in price limits at Equity and Derivatives Markets

12 March 2020 - 21:29

 

Doc

Type                             

Announcement

No             

2020/20

Subject

About Changes In The Price Limits,  Price Change Triggering Circuit Breaker And The Circuit Breaker Order Collection Period Applied In The Equities Traded In BIST Stars and BIST Main Market And The Daily Price Limits Applied In The Single Stock And Equity Index Futures Traded In The Derivatives Market

Apr. Date                 

12/03/2020

From

Equity Market, Derivatives Market

To

Members, Data Vendors and Independent Software Vendors (ISVs)

 


To Whom It May Concern,

 

The price margin, circuit breaker triggering rate and the circuit breaker order collection period applied in the equities traded in BIST Stars and BIST Main Market and the daily price limits applied in the Single Stock and Equity Index Futures traded in the Derivatives Market have been changed as of 13/03/2020 to be valid until a second announcement as decided by the General Directorate.

 

In the Equities Market:

 

  • Price margin (for determining price limits) of the shares traded in BIST Stars and BIST Main Market has been reduced to 10%,
  • Price change triggering circuit breaker in BIST Stars and BIST Main Market has been reduced to to 5%,
  • Circuit breaker call period will be 30 minutes in BIST Stars and BIST Main Markets,
  • Circuit breaker uncross period time will remain as 2 minutes in BIST Stars and BIST Main Markets,
  • Price margin (for determining price limits) in Exchange Traded Funds, Real Estate Certificates, Real Estate Investment Funds and Venture Capital Investment Funds has been reduced to 10% from 20%,
  • Price margin in Rights Coupons will remain as  50%.

 

In the Derivatives Market:

 

  • Daily price limits of Single Stock and Equity Index (BIST30, BIST Bank, BIST Industrial, BIST Liquid Bank and BIST Liquid 10 Ex Banks) futures contracts has been decreased to 10%.

 

 The changes are given in the table below:


 

CURRENT PRACTICE

NEW PRACTICE

Price Margin and Circuit Breaker Margin

BIST STARS

BIST MAIN

BIST STARS

BIST MAIN

Group 1

Group 2

Group 1

Group 2

Group 1

Group 2

Group 1

Group 2

Price Margin

20%

20

20%

15%

10%

10%

10%

10%

Price Change Triggering Circuit Breaker

10%

10%

10%

7,5%

5%

5%

5%

5%

Circuit Breaker Call Period

5

minutes

5

minutes

15

minutes

25

minutes

30 minutes

30 minutes

30 minutes

30 minutes

Circuit Breaker Uncross Period

2

minutes

2

minutes

2

minutes

2

minutes

2 minutes

2

minutes

2 minutes

2 minutes

 

 

CURRENT PRACTICE

NEW PRACTICE

Single Stock Futures Contracts

20%

10%

Equity Index Futures Contracts

15%

10%

 

 

Kindly submitted for your information.

 

Sincerely,

 

Ali ÖMÜRBEK

Executive Vice President