Starting from June 5, 2023, discrete auctions will be held on the Moscow Stock Exchange for all shares and depositary receipts. This was reported by the exchange.
Currently, the technology of discrete auctions is applied only to securities from the Moscow Exchange Index calculation database (IMOEX).
Since 2013, a discrete auction has replaced the suspension of trading on the stock market in the event of a significant change in securities prices. A discrete auction is used when the current stock price deviates from the closing price of the previous trading day by more than 20% within 10 minutes.
A discrete auction session consists of three auctions of 10 minutes each. After 30 minutes from the start of the auction, bidding resumes as usual. During the trading day, no more than 2 discrete auctions can be held on one paper. Discrete auctions are not held after 16:40 MSK.
