20.04.2016 14:28

Moscow Exchange change tick sizes from 4 May 2016

To improve efficiency of the equity market microstructure, Moscow Exchange is changing tick sizes for the following securities as part of the regular quarterly review. The new tick sizes will take effect from 4 May 2016:

Ticker	Company (Asset management company)	Type, category	State registration number (Number of trust management rules)	ISIN	Tick size (before 4 May 2016)	Tick size (from 4 May 2016)
ARMD	Armada	ORDS	1-01-10670-A	RU000A0JP4J4	0.5	0.1
DZRD	Donskoy Factory of Radiocomponents	ORDS	1-01-02677-A	RU000A0JQW11	5	10
DZRDP	Donskoy Factory of Radiocomponents	PREFS	2-01-02677-A	RU000A0JQW29	5	10
GRNT	CIT	ORDS	1-01-05280-D	RU000A0JV532	0.001	0.005
GTLC	GTL	ORDS	1-03-22061-H	RU000A0JTN19	0.0001	0.001
IDVP	Invest-Development	ORDS	1-01-15857-A	RU000A0JV7V4	1	10
IGST	Izhstal	ORDS	1-02-30078-D	RU0002155292	1	5
KCHEP	Kamchatskenergo	PREFS	2-02-00235-A	RU0006753480	0.0001	0.0005
LNTA	Deutsche bank Luxembourg	DR		US52634T2006	1	0.5
LNZLP	Lenzoloto	PREFS	2-02-40433-N	RU000A0JP1P7	5	10
MAGEP	Magadanenergo	PREFS	2-01-00254-A	RU0006758893	0.005	0.01
MFON	Megafon	ORDS	1-03-00822-J	RU000A0JS942	1	0.5
MOBB	Mosoblbank	ORDS	10101751B	RU000A0JS7V9	0.1	0.01
MRKC	IDGC of Centre	ORDS	1-01-10214-A	RU000A0JPPL8	0.0001	0.0005
MRSB	Mordovskaya EnergoSbyt Comp.	ORDS	1-01-55055-E	RU000A0D9AJ7	0.0005	0.001
NNSB	Nizhny Novgorod Power Sale Company	ORDS	1-01-55072-E	RU000A0ET5A1	1	5
PRFN	Chelyabinski zavod PROFNASTIL	ORDS	1-01-45194-D	RU000A0JNXF9	0.001	0.005
QIWI	BNY Mellon	DR		US74735M1080	5	1
ROLO	Rusolovo	ORDS	1-01-15065-A	RU000A0JU1B0	0.005	0.01
RU000A0JS868	GBM Asset Management Company	Mutual fund	2286	RU000A0JS868	0.5	1
RU000A0JUA37	EFG Asset Management	Mortgage-backed participation cert.	0003	RU000A0JUA37	5	1
TGKO	TKZ	ORDS	1-05-30032-E	RU0006944105	0.001	0.5
UTAR	UTair Aviation	ORDS	1-01-00077-F	RU0007661385	0.05	0.01
VTRS	VTORRESOURCE	ORDS	1-01-05287-D	RU000A0JS9K8	0.05	0.01
VZRZ	V.Bank	ORDS	10101439B	RU0009084214	1	0.5
YRSB	TNS Energo Yaroslav	ORDS	1-01-50099-A	RU000A0D8760	0.1	0.5
ZILL	АМО ЗИЛ	ORDS	1-02-00036-A	RU0009086193	1	5

The new tick sizes will apply in the following trading modes:

T+2 Central order book;
Odd lots;
Dark pools;
Central order book for D Equities;
Negotiated trades;
D-equities – negotiated trades;
Negotiated trades with the CCP.

The Decimals parameter measuring the tick size accuracy will remain unchanged for the above-mentioned securities.

However, it will be changed for the following securities from 4 May 2016 with the tick size remained the same:

Ticker	Company	Type, category	State registration number	ISIN	Decimals (before 4 May 2016)	Decimals (from 4 May 2016)
EPLN	Europlan	ORDS	1-02-56453-P	RU000A0JVW89	1	0
KLSB	Kaluga Power Sale Company	ORDS	1-01-65057-D	RU000A0DKZK3	2	1
NKHP	NKKhP	ORDS	1-03-35684-E	RU000A0BLWD7	2	0

Changes in tick sizes and Decimals parameters to take effect from 4 May 2016

Note:

To determine the tick size, the security's liquidity is taken into account in addition to its price. This allows the spread between the best bid and best ask to be narrowed, the time for orders to be filled at the best price to be reduced, and encourages investors to enter limit orders in the exchange order book. Improvement of the order book quality broadens the range of securities available for use with algorithmic strategies.

The price ticks are to be reviewed quarterly from the second quarter of 2015.

The price tick method employed by Moscow Exchange was adopted by the MICEX SE's Equity & Bond Market Committee on 27 June 2014.

For further information, please contact the Public Relations Department at (495) 363-3232.

Menu

List of services

Profile

Moscow Exchange change tick sizes from 4 May 2016