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BSX Changes Market ‘Tick’ Size
Hamilton, Bermuda - 21 September, 2010 – The Bermuda Stock Exchange (“BSX”) announced today that, with immediate effect, the market ‘tick’ size (the smallest allowable price change in a listed securities quote or trade) on the BSX has been changed from 5 cents to 1 cent.
The move was undertaken by the BSX following a consultation period with its Trading Members and with the Bermuda Monetary Authority, and will bring the Bermuda market into line with current international market practice in an effort to enhance market liquidity by reducing the spread between ‘buy’ and ‘sell’ orders.