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Block trading

Block trading in securities (Dark Pool) is a separate trading mode intended for executing trades in a large quantity of shares (block trading) through discrete auctions.

General information:

  • Trading mode identifier – EQDP;
  • Settlement code - K0;
  • Minimum limitation on the order size

List of securities, admitted to block trading in the Main Market Sector of MICEX Stock Exchange (doc, 104 Kb).

Auction schedule: 11:00; 12:00; 13:00; 14:00; 15:00; 16:00; 17:00; 18:00 (MSK)

Orders type:

  • Limit or market;
  • With "Enqueue ", "Withdraw Balance" or "Fill or kill" attribute.

The following information is available to a Trading member:

  • Current price on the main market fixed upon opening the price window (calculated in accordance with the trading rules as the average weighted price of trades executed during the previous 10 minutes). The current price value is published upon opening of a price band.
  • Minimum acceptable auction price.
  • Maximum acceptable auction price.
  • Auction price. Auction price is determined and published upon completion of an auction period at the start of the trades executing period.
  • Bid/Sell Indicator" – 3 levels:
    • No orders;
    • Orders available with the aggregate size less than N* of minimum order size;
    • Orders available with the total size more than N* of minimum order size.

* N indicator ("Block order indicator") is unified for all securities traded in the block trading mode. The N indicator value is set by a resolution of the General Director of MICEX Stock Exchange and communicated to market participants prior to the effective date of such resolution. N indicator is not published in the Trading system.