Oslo Brs will introduce new tick sizes for the 25 shares that make up the OBX index with effect from Monday 31 August 2009.
As previously announced, this is the result of the initiative taken by the Federation of European Securities Exchanges (FESE) to simplify and harmonise tick sizes in European markets. Other stock exchanges and multilateral trading facilities (MTFs) have also committed themselves to use harmonised tick size tables.
Tick size refers to the minimum amount by which the price of a share is allowed to move up or down, and is thus the minimum difference between bid and offer prices in the order book.
Oslo Brs elected in July 2009 to reduce the tick size for all OBX shares to NOK 0.01 as a result of reductions in tick sizes that some MTFs had already announced even though the FESE was still working on harmonising tick sizes, cf. Oslo Brs press release of 29 June.
L.D.