Published on: 2026-04-21
Source: Moscow Exchange – Московская Биржа –
An important disclaimer is at the bottom of this article.
In order to increase the efficiency of the market microstructure for stocks, the Moscow Exchange, as part of the quarterly review, establishes a new price step and Decimals parameter from May 5, 2026.list of securitiesIn the following trading mode:
- Trading modes T+ main (“order book” T+1)
- Trading mode “Partial lots”
- Regime of negotiation deals (RPS)
- Trading regime “RPS with CC”
The effective step to establish the price wasapprovedBy the Committee on the Stock Market of the Moscow Exchange.
The methodology provides for:
- step size price can take values (1,2,5) * 10N, where N is an integer;
- Number of price ranges – 25, number of liquidity ranges – 7;
- For each liquidity range, the recommended range of price tick size in the spread is established;
- Maximum allowable relative price step value – 1%.
Reference:
When determining the price step, the price and liquidity of the securities are taken into account. Optimizing the price step allows reducing the waiting time for order execution at the best price, and also stimulates investors to place limit orders in the “order book.” Improving the quality of stock exchange trading makes it possible for investors to apply algorithmic trading strategies across a wider range of securities, contributing to increased liquidity.
The quarterly review of the price step has been implemented since the second quarter of 2015.
Please note; This information is raw content obtained directly from the source of the information. It represents an accurate report of what the source claims, and does not necessarily reflect the position of MIL-OSI or its clients.