Financial markets service amends trading session suspension rules
MOSCOW, December 13 - RAPSI. The Justice Ministry has registered the Federal Service for Financial Markets' order amending the rules of suspending trading sessions, the service reported on Tuesday.
The draft order on amendments to certain regulatory acts of the Federal Service for Financial Markets dated October 31, 2011 was published on the service's web site. The draft entitles the stock exchange to reduce trading suspension period from one hour to half an hour аnd introduces the so called discrete auctions.
Stock exchanges are now allowed to run trading sessions through occasional auctions which are to result in transactions at prices set by the market operator.
Meanwhile, trading rules should specify application deadline, minimum number of trading participants for holding discrete auction; the requisite minimum total number of securities in buy and sell orders; price definition procedure and the reasons to resume trading session in other trading modes.