On 29th December 2017, the Cyprus Stock Exchange (CSE) according to previous announcement dated 11 December 2017, announceδ the availability of the new tick size, based on the updated European Securities and Markets Authority (ESMA) tick size liquidity band assessment. As a reminder, the implementation of the new tick sizes will be effective on Tuesday, 2 January 2018 and orders that will exist in the system on 2 January 2018 with a price that would not fulfil the minimum tick size requirement will be inactive. In case where there is such interest, these orders should become active.
The CSE will strictly apply the minimum tick size requirements to orders and quotes in shares as stated in the Commission Delegated Regulation (EU) 2017/588 and the corresponding Annex (former RTS 11). The tick size applies to orders in each instrument corresponding to the liquidity band – based on the Average Daily Number of Transactions (ADNT) in the most relevant market in terms of liquidity ‐ and the price range in that liquidity band corresponding to the price of the order. The ADNT has been made available by ESMA and is available through the following URL: https://www.esma.europa.eu/sites/default/files/equity_ticksize.xlsx
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