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02-01-2018 - Information by BSE-Sofia (Information by BSE-Sofia)

Notification by BSE-Sofia regarding the tick sizes applicable as of 02 January 2018
In connection with the requirements of the Commission Delegated Regulation (EU) 2017/588, as of 02 January 2018 all shares and exchange-traded funds will be traded at tick sizes assigned in accordance with the announced on the website of the Financial Supervision Commission "Information about the average daily number of transactions in issues of shares admitted to trading on BSE-Sofia" available at http://www.fsc.bg/d.php?id=22170 and with the Annex to Delegated Regulation (EU) 2017/588.
Tick sizes will be applied in accordance with the liquidity band corresponding to the average daily number of transactions. The liquidity band will not be changed until the Financial Supervision Commission determines a new average daily number of transactions. Tick sizes will vary depending on the price range in which the limit price of the order is set.
For example:
In case the issue of shares XYZ has a liquidity band LB1 (i.e. the average daily number of transactions is from 0 to 10), the broker may enter orders at a tick size of 0.01 i.e. at the price of BGN 1.97, 1.98, 1.99 etc. within the price range from BGN 1.00 to BGN 2.00, but may not enter an order at the price of BGN 1.975 for instance. When the price range is changed to BGN 2.00 BGN 5.00, the broker may enter orders at a tick size of 0.02 i.e. at the price of BGN 2.00, 2.02, 2.04 etc., but may not enter an order at the price of BGN 2.01 or 2.03. So, please, pay attention that the tick size changes with the price range while the liquidity band remains unchanged.
The liquidity bands corresponding to the average daily number of transactions in shares and exchange-traded funds are posted on the website of the Exchange.
The rest of the financial instruments admitted to trading on BSE-Sofia will continue to have a tick size accurate to the third decimal place.