Tuesday February 20 2018

News Source: Global Exchanges

Focus: Other

Type: General




On 19th February 2018, the Budapest Stock Exchange (BSE) confirmed that amendments  were made to Resolution No. 456/2017. This Resolution regulates market making activity and the market making agreement.

The purpose of this Resolution is to define the terms and conditions of market making activity on the BETa Market of the Exchange and to outline the obligations placed on Traders regarding Market Making Agreements. This Resolution is applicable to all market making activity conducted on BETa Market Trading Systems.

The Amendments have been made in accordance with Section 2.1. Book One of the General Terms of Service of the BETa Market.

The Resolution holds that the Trader pursues Market Making Activity, if it maintains:

  • limit price orders or quotes,
  • as two-way quotes,
  • with comparable order quantities both in bids and asks,
  • which are simultaneous and binding,
  • in the BETa Market Trading Systems,
  • at least during 50% of the daily trading hours which takes place in continuous trading  – excluding the opening and closing periods – calculated for each trading day on more than half of the trading days of the given month,
  • in the public order book regarding at least one tradable financial instrument on the Exchange by dealing on its own account (not client account) of the minimum size stipulated in Annex I. “The Parameters of Market Making”.

These amended rules will become effective on 21st February 2018.

For additional information please click the link above.