COMMISSION DELEGATED REGULATION (EU) 2017/588
of 14 July 2016
supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards on the tick size regime for shares, depositary receipts and exchange-traded funds
(Text with EEA relevance)
Article 1
Most relevant market in terms of liquidity
Article 2
Tick size for shares, depositary receipts and exchange-traded funds
(Article 49(1) and (2) of Directive 2014/65/EU)
Article 3
Average daily number of transactions for shares and depositary receipts
(Article 49(1) and (2) of Directive 2014/65/EU)
Article 4
Corporate actions
(Article 49(1) and (2) of Directive 2014/65/EU)
Article 5
Transitional provisions
Article 6
Entry into force and application
ANNEX
Tick size table
|
Liquidity bands |
|||||
Price ranges |
0 ≤ Average daily number of transactions < 10 |
10 ≤ Average daily number of transactions < 80 |
80 ≤ Average daily number of transactions < 600 |
600 ≤ Average daily number of transactions < 2 000 |
2 000 ≤ Average daily number of transactions < 9 000 |
9 000 ≤ Average daily number of transactions |
0 ≤ price < 0,1 |
0,0005 |
0,0002 |
0,0001 |
0,0001 |
0,0001 |
0,0001 |
0,1 ≤ price < 0,2 |
0,001 |
0,0005 |
0,0002 |
0,0001 |
0,0001 |
0,0001 |
0,2 ≤ price < 0,5 |
0,002 |
0,001 |
0,0005 |
0,0002 |
0,0001 |
0,0001 |
0,5 ≤ price < 1 |
0,005 |
0,002 |
0,001 |
0,0005 |
0,0002 |
0,0001 |
1 ≤ price < 2 |
0,01 |
0,005 |
0,002 |
0,001 |
0,0005 |
0,0002 |
2 ≤ price < 5 |
0,02 |
0,01 |
0,005 |
0,002 |
0,001 |
0,0005 |
5 ≤ price < 10 |
0,05 |
0,02 |
0,01 |
0,005 |
0,002 |
0,001 |
10 ≤ price < 20 |
0,1 |
0,05 |
0,02 |
0,01 |
0,005 |
0,002 |
20 ≤ price < 50 |
0,2 |
0,1 |
0,05 |
0,02 |
0,01 |
0,005 |
50 ≤ price < 100 |
0,5 |
0,2 |
0,1 |
0,05 |
0,02 |
0,01 |
100 ≤ price < 200 |
1 |
0,5 |
0,2 |
0,1 |
0,05 |
0,02 |
200 ≤ price < 500 |
2 |
1 |
0,5 |
0,2 |
0,1 |
0,05 |
500 ≤ price < 1 000 |
5 |
2 |
1 |
0,5 |
0,2 |
0,1 |
1 000 ≤ price < 2 000 |
10 |
5 |
2 |
1 |
0,5 |
0,2 |
2 000 ≤ price < 5 000 |
20 |
10 |
5 |
2 |
1 |
0,5 |
5 000 ≤ price < 10 000 |
50 |
20 |
10 |
5 |
2 |
1 |
10 000 ≤ price < 20 000 |
100 |
50 |
20 |
10 |
5 |
2 |
20 000 ≤ price < 50 000 |
200 |
100 |
50 |
20 |
10 |
5 |
50 000 ≤ price |
500 |
200 |
100 |
50 |
20 |
10 |