29 Dec 2017

New requirement for BSE trading

Dear Clients,

 

We would like to inform you that with reference to the new regulatory framework of MiFID II and the changes made by the Bulgarian Stock Exchange with accordance to it, Karoll Broker will update its connectivity to the Exchange without necessitating any further changes or reinstallation of the trading platform by the end users.

Also, we would like to inform you that in accordance with the changes, all active orders in the trading system (XETRA) following the end of the trading session on December 29, 2017 will be ex-officio deleted by BSE. New orders can be placed after 00:00 on 01/01/2018.

 

We would like to note that with reference to the new regulatory requirements the following changes are introduced:

- the total amount of the “iceberg” order should have a minimum value (quantity * limit price) of no less than or equal to the BGN equivalent of EUR 10 000. The requirement for a peak size of a minimum 5% of the total amount of the “iceberg” order remains unchanged while the requirement for a minimum of 100 shares is not applicable. An “iceberg” order which is not compliant with the requirement for a minimum amount shall be rejected by the System;

- as from January 2, 2018 all shares and exchange-traded funds will be traded with new tick-sizes. The exact tick-size for each share can be found on the website of the Exchange or downloaded from here:

 

http://download.bse-sofia.bg/Tick_Size/Tick%20Size%20BSE%2002.01.18%20BG.xls

 

Karoll wishes you happy New Year and many successful trades in 2018!

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