Changes in the Course of Trades

MOEX monitors best quotes as they approach the price bands. In case the best buy/sell quote moves to less than 10% to the price band and stays there for 5 min running, upper/lower bands can be shifted. These changes lead to the decrease the single limit.

The price band is shifted by Δ:

Δ = (PcH0 - PcL0)*Shift

(PcH0 - PcL0) - the band set in the morning of the trading day;

Shift - band shift ratio.

Price band and risk bands (Level 1, 2 and 3) shift simultaneously.

Upper band goes up. Lower band goes down.

Below one can find a sample band upshift. A similar scheme is used for downshifts.