Translation. Region: Russian Federation –
Source: Moscow Exchange – Moscow Exchange –
An important disclaimer is at the bottom of this article.
In order to improve the efficiency of the stock market microstructure, Moscow Exchange, as part of its quarterly review from February 2, 2026, is setting a new price step and Decimals parameter forlist of securitiesin the following trading modes:
Main trading mode T (“glass” T 1) Trading mode “Incomplete lots” Negotiated transactions mode (RPS) Trading mode “RPS with CC”
The current approach to setting the price step wasapprovedBy the Moscow Exchange Stock Market Committee.
The methodology includes:
The price step size can take values of (1,2,5) * 10N, where N is an integer; the number of price ranges is 25, the number of liquidity ranges is 7; for each liquidity range, a recommended range of the number of price steps in the spread is set; the maximum permissible value of the relative price step is 1%.
For reference:
When determining the price increment, the price and liquidity of securities are taken into account. Optimizing the price increment reduces the wait time for an order to be executed at the best price and encourages investors to submit limit orders in the order book. Improving the quality of exchange trading enables investors to apply algorithmic trading strategies to a wider range of securities and contributes to increased liquidity.
The price step has been revised quarterly since the second quarter of 2015.
Contact information for media: 7 (495) 363-3232PR@moex.com
Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.