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Abu Dhabi Securities Exchange brings out new tick sizes

The Abu Dhabi Securities Exchange (ADX) has launched trading with a new tick size for stocks of companies with a price of less than Dh1. This follows a successful testing of all internal systems, and technical and operational procedures relevant to operating tick sizes.
The new tick sizes consist of five units: Dh0.0001 for shares within the price range of Dh0.10 to 0.99; Dh0.01 for a price range of Dh1 to Dh9.99; Dh0.02 for a price range of Dh10 to Dh49.98; Dh0.05 for shares within Dh50 to Dh99.95, and Dh0.10 for shares at Dh100 and above.

ā€œIntroducing the upgrade on the tick size will further enhance the pricing model, as well as strengthen market liquidity by providing greater value to current and future investors,ā€ said Rashed Al Beloushi, chief executive of the ADX.
This was done based on a detailed study conducted at the beginning of the year until mid-May of listed companiesā€™ performance and market trading activity.
At the time of the study, there were 17 companies listed on the ADX with a share value of less than Dh1, with their value of trading reaching Dh3 billion, representing 23 per cent of the total trading value on the exchange at the time.

Source: Gulf News

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