Tick size regime for shares

Since 2 January 2018 the Zagreb Stock Exchange has introduced the tick size regime for shares in accordance to the provisions of the Commission Delegated Regulation (EU) 2017/588 of 14 July 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards on the tick size regime for shares, depositary receipts and exchange-traded funds.

In the table below the average daily number of transactions and the liquidity band for each particular shares are displayed.

Liquidity bands

Price ranges0 ≤ Average daily number of transactions < 1010 ≤ Average daily number of transactions < 8080 ≤ Average daily number of transactions < 600600 ≤ Average daily number of transactions < 2 0002 000 ≤ Average daily number of transactions < 9 0009 000 ≤ Average daily number of transactions
Liquidity band123456
0 ≤ price < 0,10,00050,00020,00010,00010,00010,0001
0,1 ≤ price < 0,20,0010,00050,00020,00010,00010,0001
0,2 ≤ price < 0,50,0020,0010,00050,00020,00010,0001
0,5 ≤ price < 10,0050,0020,0010,00050,00020,0001
1 ≤ price < 20,010,0050,0020,0010,00050,0002
2 ≤ price < 50,020,010,0050,0020,0010,0005
5 ≤ price < 100,050,020,010,0050,0020,001
10 ≤ price < 200,10,050,020,010,0050,002
20 ≤ price < 500,20,10,050,020,010,005
50 ≤ price < 1000,50,20,10,050,020,01
100 ≤ price < 20010,50,20,10,050,02
200 ≤ price < 500210,50,20,10,05
500 ≤ price < 1 0005210,50,20,1
1 000 ≤ price < 2 000105210,50,2
2 000 ≤ price < 5 00020105210,5
5 000 ≤ price < 10 000502010521
10 000 ≤ price < 20 00010050201052
20 000 ≤ price < 50 0002001005020105
50 000 ≤ price500200100502010

 

Calculation of average daily number of transactions on the most relevant market for each particular share was done by the competent authority and it is published at the Internet pages of European Securities and Markets Authority (ESMA): https://registers.esma.europa.eu/publication/searchRegister?core=esma_registers_fitrs_equities

The tick sizes of the liquidity band will be applied from 1 April 2020 till 31 March 2021.

On every change of the liquidity band the XETRA trading platform will automatically withdraw all open orders for that particular share.

SymbolISINLiquidity band
KOTR2HRKOTRPA0003E01
TSHCHRTSHCRA0009E01
BCINHRBCINRA0003E01
3ICFHRICFPO266A8

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