Prague Stock Exchange: Change of the exchange rules

Prague Stock Exchange: Change of the exchange rules

14/07/09

The Exchange Chamber approved changes valid as of 15th July, 2009:

1. Change of the Exchange Rules, Part VII, Rules Governing the Automatic Trades

a) The market codes 6 and 7 used within the Auction Regime will be abolished (total supply surplus and total demand surplus). In case of the price set on the range limit the allocation ratio will not be decisive. All orders with complying prices will always be matched. The abolishment of total surpluses should encourage trading, nevertheless not all orders will be satisfied in any case. There will still be situations in which orders will be just partly satisfied.

b) According to the article 3, paragraph 7, the maximal value of an order will be raised to CZKm 150 (from CZKm 40 in case of issues traded within the SPAD Regime, CZKm 10 in case of other issues). The maximal value of an order will equal the above-limited trade limit.

2. Change of the Exchange Rules, Part XI, Trading Rules Applicable to the Share and Bond Market Supporting System and Part VI, Conditions for Admission and Trading of Derivative Investment Instruments on the Free Market of the Exchange

The Exchange Chamber decided to change the method for current price change calculation as well as allowable range calculation. All changes will be calculated based on the last trading day closing price. The reason for this change is to unify the data used by the Exchange, by traders and by agencies.