trading parameters

8/14/2019 trading parameters

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TRADING PARAMETERS

I. TRADING GROUPS

Trading group Type of security Method of trading1 all book-entered auction + continual + block trades2 all certificated auction + block trades

3 included into SPADauction + continual + SPAD + block trades (over-the-limit)

II. AUTOMATIC TRADES

Quotation step(for orders)

Shares

Official price in CZK Quotation step< 200 CZK 0.01

200 1,000 CZK 0.10

1,000 CZK 1.00

Bonds

Official price in % Quotation step< 200% 0.01%

200% 1.00%

Allowable divergency

Trading group Auction Continual Waiting period1 5% 5% + 3% 1 x 5 min.2 5% --- ----

3 5%5% + 5% + 5% + 5%

if the 20 % band is crossed, add.10 % + 10 % + 10 %

3 x 5 min.if the 20 % band is crossed, add.

3 x 15 min.

Lot (in pieces) for continual

Trading group Lot

1 1 pcs2 1 pcs3 1 pcs

Market codes

1perfect balance, allocation ratio = 100%, trade is concluded, official price is set in harmony with criteria

2local excess on offer side, allocation ratio 0-100%, trade is concluded, official price is set in harmonywith criteria

3local excess on bid side, allocation ratio 0-100%, trade is concluded, official price is set in harmonywith criteria


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4global excess on offer side, allocation ratio higher than 20%, trade is concluded, official price is set atthe threshold of the allowable spread

5global excess on bid side, allocation ratio higher than 20%, trade is concluded, official price is set atthe ceiling of the allowable spread

6total excess on offer side, allocation ratio 0- 20%, trade is not concluded, official price is set at thethreshold of the allowable spread

7total excess on bid side, allocation ratio 0- 20%, trade is not concluded, official price is set at theceiling of the allowable spread

8not quoted, allocation ratio 0%, trade is not concluded, official price is not set

Maximum theoreticaly trade value per order

multiplication of ordered pieces and previous closing exchange rate of securities.A potentional trade value of ordered issues should be below CZK 40 mil refering to SPADissues and below CZK 10 mil refering to other issues.

III. SPAD

Standard settlement date: T+3

Allowable spread during open phase: the best quotation extended in both directions by 0.5% during closed phase: the best quotation extended in both directions by 5%

Maximum spread for given Exchange day for the given exchange session, the maximum allowable variance from midpoint of the best

quotation set at the moment of starting the open phase, is fixed for 20 %. If exceeded, this

band may be expanded by additional 10 %. Expansion of the next band may be repeated,

but up to 50 % as maximum

Interruption of quotation after concluding the trade: max. 3 min. in case of technical problems: without limitation

The maximum spread of the market makers' quotations the maximum band within which the market makers may enter their quotations has been

defined by maximum variation of 50 % from midpoint of the allowed spread valid at themoment the open phase is started in the SPAD.

Limit for market makers Market maker (MM) at the best quotation is obliged to confirm the instruction which as the first

responded to his quotation, forthwith - max. by 10 sec.

Time for including the trade during open phase: max 5 min.


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during closed phase: max 60 min from the negotiating of the trade

Limit for over-the-limit trade set by number of pieces for each issue particularly (totaled at multiple of standard volume) in

order that the value was cca CZK 150 mil.

Trading break is the period (15 minutes) during which trading is suspended due to breach of the 20 % band

and subsequently of each additional maximum band announced by manager of the exchangesession.

Limits

Limits Group 1 Group 2 Group 3control limit without limitation CZK 100 mil. CZK 50 mil.

sanction limit without limitation CZK 125 mil. CZK 75 mil.

group 1 market makers

non-market markers that deposit guarantees at CZK 20 mil. including into the second or the third group respectively depends on trade value in preceding

period

MMs guarantee MMs guarantee in SPAD serves as MMs warranty for his obligations against the Exchange

Guarantee Fund. The Exchange Chamber set the guarantee at CZK 10 mil. in financial formor in form of bank guarantee. Requirement of guarantee adjusts article 36 of UnivycSettlement System Rules.

IV. BLOCK TRADESLimit for registration

Security Limit for reporting (registration)Shares till 5 min. during the open phase of SPAD trading

till 60 min. during the closed phase of SPAD tradingBonds till 120 min

Minimum value

Share = CZK 1 Bond = CZK 10,000

V. SETTLEMENT DIAL

Type of settlement Type of transaction Date of settlement

SV3 SPAD trades from T+1 to T+15

DVx block trades from T+1 to T+15

EVx Univyc trades from T+1 to T+15

EFyUnivyc trades(without money)

from T+0 to T+15


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CVx custody transfer from T+1 to T+15

CFycustody transfer(without money)

from T+0 to T+15

VVx custody transfer from T+1 to T+15

VFycustody transfer(without money)

from T+0 to T+15

NVx block trade from T+1 to T+15

IV0 substitute trade from T+1 to T+15

FVx, FFy Univyc trades from T+016 to T+99

PVx, BVx, RVx Univyc transfer from T+1 to T+99

PFy, BFy, RFyUnivyc transfer(without money)

from T+0 to T+99

ZF0 technical - Univyc from T+1 to T+15

XF0 technical - Univyc from T+0 to T+15

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