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Obligations of liquidity providers
Minimum requirements for liquidity providers

Liquidity providers are obliged to ensure the following minimum requirements in entering the said orders for purchase and sale on the market (hereinafter: quote) and concluding transactions on the basis of these orders on a daily basis:

  • Maximum spread between the buy and sell price (hereinafter: maximum spread);
  • Minimum value of an buy and sell order (hereinafter: minimum quote size);
  • Minimum quote presence period on the market (70% of the time).

The criteria of maximum spread and minimum quote size differ with regard to the group that respective securities belong in. The method of classification in respective groups is described in greater detail in Instructions for liquidity providers.

Criteria for maximum spread and minimum quote size by groups

Group  

Maximum spread

Minimum quote size

S1

3%

EUR 12,000

S2

4%

EUR 6,000

S3

5%

EUR 3,000

A liquidity provider is obliged to participate in auction trading and market opening with his quotes for accounts marked V. The period of presence of quotes on a daily basis is equal to the average of the presence of a liquidity provider in all conducted auctions (including the opening of the market). On a monthly or semi-annual basis, the period of presence of quotes is equal to the average daily presence of liquidity providers.

Quantitative criteria for classification of securities into groups

Group Average daily turnover
S1 minimum 70,000 EUR
S2 minimum 10,000 EUR
S3 less than 10,000 EUR
 

Securities are ranked into groups annually, together with a review of liquidity criteria, which serves as a basis for classification of securities either into continuous or auction trading - Classification of securities.

Discounts

Liquidity providers are entitled to a discount on the commission fee for transactions concluded in accordance with the LJSE Services Fee Schedule, which is charged once a month.

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