| Doc | Type | Announcement |
| No | 2020/20 | |
| Subject | About Changes In The Price Limits, Price Change Triggering Circuit Breaker And The Circuit Breaker Order Collection Period Applied In The Equities Traded In BIST Stars and BIST Main Market And The Daily Price Limits Applied In The Single Stock And Equity Index Futures Traded In The Derivatives Market | |
| Apr. Date | 12/03/2020 | |
| From | Equity Market, Derivatives Market | |
| To | Members, Data Vendors and Independent Software Vendors (ISVs) |
To Whom It May Concern,
The price margin, circuit breaker triggering rate and the circuit breaker order collection period applied in the equities traded in BIST Stars and BIST Main Market and the daily price limits applied in the Single Stock and Equity Index Futures traded in the Derivatives Market have been changed as of 13/03/2020 to be valid until a second announcement as decided by the General Directorate.
In the Equities Market:
- Price margin (for determining price limits) of the shares traded in BIST Stars and BIST Main Market has been reduced to 10%,
- Price change triggering circuit breaker in BIST Stars and BIST Main Market has been reduced to to 5%,
- Circuit breaker call period will be 30 minutes in BIST Stars and BIST Main Markets,
- Circuit breaker uncross period time will remain as 2 minutes in BIST Stars and BIST Main Markets,
- Price margin (for determining price limits) in Exchange Traded Funds, Real Estate Certificates, Real Estate Investment Funds and Venture Capital Investment Funds has been reduced to 10% from 20%,
- Price margin in Rights Coupons will remain as 50%.
In the Derivatives Market:
- Daily price limits of Single Stock and Equity Index (BIST30, BIST Bank, BIST Industrial, BIST Liquid Bank and BIST Liquid 10 Ex Banks) futures contracts has been decreased to 10%.
The changes are given in the table below:
|
| CURRENT PRACTICE | NEW PRACTICE | ||||||
| Price Margin and Circuit Breaker Margin | BIST STARS | BIST MAIN | BIST STARS | BIST MAIN | ||||
| Group 1 | Group 2 | Group 1 | Group 2 | Group 1 | Group 2 | Group 1 | Group 2 | |
| Price Margin | 20% | 20 | 20% | 15% | 10% | 10% | 10% | 10% |
| Price Change Triggering Circuit Breaker | 10% | 10% | 10% | 7,5% | 5% | 5% | 5% | 5% |
| Circuit Breaker Call Period | 5 minutes | 5 minutes | 15 minutes | 25 minutes | 30 minutes | 30 minutes | 30 minutes | 30 minutes |
| Circuit Breaker Uncross Period | 2 minutes | 2 minutes | 2 minutes | 2 minutes | 2 minutes | 2 minutes | 2 minutes | 2 minutes |
|
| CURRENT PRACTICE | NEW PRACTICE |
| Single Stock Futures Contracts | 20% | 10% |
| Equity Index Futures Contracts | 15% | 10% |
Kindly submitted for your information.
Sincerely,
Ali ÖMÜRBEK
Executive Vice President
