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moscow_exchange [2018/05/24 15:31] – [Additional Info] mayamoscow_exchange [2023/02/27 11:54] (current) hammed
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 ====== Moscow Exchange (MOEX) ====== ====== Moscow Exchange (MOEX) ======
 +
 Moscow Exchange is the largest stock exchange in Russia and among the top 30 leading stock exchanges worldwide. MOEX is organized into three segments: Main Market, Standard, and Classica. The Main Market segment is the most liquid, where trades are executed with the Central Counterparty with advance depositing of assets.  Moscow Exchange is the largest stock exchange in Russia and among the top 30 leading stock exchanges worldwide. MOEX is organized into three segments: Main Market, Standard, and Classica. The Main Market segment is the most liquid, where trades are executed with the Central Counterparty with advance depositing of assets. 
  
-[[ http://moex.com/en/ | Home Page ]]+**Please note**: Until further notice, market is not available to trade. 
 + 
 +[[ Xhttp://moex.com/en/ | Home Page ]]
  
 Currency: Russian ruble (RUB) Currency: Russian ruble (RUB)
  
-[[ http://www.moex.com/s2188 | Trading Calendar]]+[[ Xhttp://www.moex.com/s2188 | Trading Calendar]]
  
 ==== Order Types ==== ==== Order Types ====
  
   * Limit Buy/Sell→ShortSell   * Limit Buy/Sell→ShortSell
 +  * Limit-On-Close Buy/Sell→ShortSell
   * Market Buy/Sell→ShortSell   * Market Buy/Sell→ShortSell
- +  * Market-On-Close Buy/Sell→ShortSell
- +
  
 ==== Basic Market Rules ==== ==== Basic Market Rules ====
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   * Short Sale Rules: short selling is allowed. Naked short selling is prohibited, and share limits change every 5 minutes with no guarantee of the number of available shares.   * Short Sale Rules: short selling is allowed. Naked short selling is prohibited, and share limits change every 5 minutes with no guarantee of the number of available shares.
   * Price Deviation Limits of Securities: on the Main Market, for Listing Levels A1, A2, and B, the maximum price deviation from the previous closing price is +/- 30%. For other Listing Level, the maximum price deviation from the previous closing price is +/- 40%.   * Price Deviation Limits of Securities: on the Main Market, for Listing Levels A1, A2, and B, the maximum price deviation from the previous closing price is +/- 30%. For other Listing Level, the maximum price deviation from the previous closing price is +/- 40%.
 +  * For more information, you can see the [[Xhttps://www.moex.com/s640|Order parameters limitation system]] page.
 +
 ==== Auction Mechanisms ==== ==== Auction Mechanisms ====
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 === Open === === Open ===
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 During the pre-trading period, only Limit orders shall be entered in the Trading System. The price of the pre-trading period shall be determined in the Trading System at the end of the period on the basis of orders placed during the pre-trading period for each security. Such price shall provide for the conclusion of transactions with the largest number of securities that are the subject to these transactions. In case several price values satisfy this requirement, the pre-trading period price shall be established as the arithmetical average of the maximum and minimum values. During the pre-trading period, only Limit orders shall be entered in the Trading System. The price of the pre-trading period shall be determined in the Trading System at the end of the period on the basis of orders placed during the pre-trading period for each security. Such price shall provide for the conclusion of transactions with the largest number of securities that are the subject to these transactions. In case several price values satisfy this requirement, the pre-trading period price shall be established as the arithmetical average of the maximum and minimum values.
  
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 === Close === === Close ===
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 The closing auction consists of the following successive phases: The closing auction consists of the following successive phases:
  
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 The closing auction price allowing execution of trades with the largest amount of securities being the subject of such trades shall be determined in the Trading System for each security based on orders entered to the system at random time of order collection phase and/or order collection phase extension. A moment for the closing auction price fixing can be randomly determined during a period of the order collection phase and/or order collection phase extension. The closing auction price allowing execution of trades with the largest amount of securities being the subject of such trades shall be determined in the Trading System for each security based on orders entered to the system at random time of order collection phase and/or order collection phase extension. A moment for the closing auction price fixing can be randomly determined during a period of the order collection phase and/or order collection phase extension.
  
-The closing price is determined as the price value that allows the execution of trades with the largest number of lots. Where several price values meet the requirement, the price shall be chosen at which the modulo an imbalance (the difference between the overall aggregate supply and overall aggregate demand) is the smallest. Where several price values meet the above-mentioned conditions, the lowest price shall be chosen in case of the excessive supply and the highest price shall be chosen in case of excessive demand. Where several price values meet the above-mentioned conditions, the price that is the closest to the last trade price of the trading period shall be chosen. Where the prices deviates equally from the last trade price, the largest of them is taken to be the closing auction price.+The closing price is determined as the price value that allows the execution of trades with the largest number of lots. Where several price values meet the requirement, the price shall be chosen at which the imbalance (the difference between the overall aggregate supply and overall aggregate demand) is the smallest. Where several price values meet the above-mentioned conditions, the lowest price shall be chosen in case of the excessive supplyand the highest price shall be chosen in case of excessive demand. Where several price values meet the above-mentioned conditions, the price that is the closest to the last trade price of the trading period shall be chosen. Where the prices deviates equally from the last trade price, the largest of them is taken to be the closing auction price.
  
 Where there is an imbalance in supply and demand during the order collection phase and/or the order collection phase extension, the sequence for orders to be filled at the closing auction price is the following: off order book Market orders, Market orders, off order book Limit orders, and Limit orders to buy at the highest price and to sell at the lowest price. Where prices are equal, the sequence for orders to be filled at the closing auction price is the following: off order book Limit orders entered earlier, Limit orders entered earlier.  Where there is an imbalance in supply and demand during the order collection phase and/or the order collection phase extension, the sequence for orders to be filled at the closing auction price is the following: off order book Market orders, Market orders, off order book Limit orders, and Limit orders to buy at the highest price and to sell at the lowest price. Where prices are equal, the sequence for orders to be filled at the closing auction price is the following: off order book Limit orders entered earlier, Limit orders entered earlier. 
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 **Order Types:** Limit orders, Market orders, off order book Limit orders, off order book Market orders, and orders at the closing auction price are eligible to participate in the closing auction. **Order Types:** Limit orders, Market orders, off order book Limit orders, off order book Market orders, and orders at the closing auction price are eligible to participate in the closing auction.
 +
 ===== Additional Info ===== ===== Additional Info =====
  
-[[ http://www.themoscowtimes.com/ | The Moscow Times ]]\\ +  * [[ xhttp://www.themoscowtimes.com/ | The Moscow Times ]] 
-[[ http://rt.com/business/ | RT News ]]\\ +  [[ xhttp://rt.com/business/ | RT News ]] 
-[[ http://tass.ru/en Russian News Agency ]]\\ +  [[ xhttps://sputniknews.com/business/ | Sputnik International: Business Section ]] 
-[[ https://sputniknews.com/business/ Sputnik International: Business Section ]]+  [[ xhttp://tass.com | TASS Russian News Agency ]] 
 ===== See Also ===== ===== See Also =====
   * [[market_guides|Market Guides]]   * [[market_guides|Market Guides]]
moscow_exchange.1527190269.txt.gz · Last modified: 2018/05/24 15:31 by maya