Tuesday November 7 2017
News Source: Global Exchanges
Focus: Trading Systems and Technology
Type: General
On the 6th November 2017, Brasil Bolsa Balcão S.A. (B3) updated its Special Trading Procedures.
These procedures allow assets with high price volatility (equivalent to four times the Ibovespa standard volatility of one month on an annualised basis) to be traded in a 30 period auction, the first transaction with the asset will be set as the opening price.
Additionally, a series of 15-minute auctions will be carried out during the regular trading session if the price proposed during trading is equal or superior to 3% in relation to the last executed price.
B3 regularly updates these procedures in order to incorporate products which have acquired high price volatility.
The procedure is enacted in accordance with Article 8 of Brazilian Securities and Exchange Commission (CVM) Instruction 168, which establishes that special procedures are “those that seek to offer conditions appropriate for the balanced participation of investors in Stock Exchange trading.”
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