CSE differentiates calculation of closing price of two markets

The Cyprus Stock Exchange (CSE) Council announced  its decision to differentiate the way of calculation of the closing price for the Main Market and the Big Projects Market.

According to a CSE press release, the changes will be effective from Monday, June 15, 2009.

The CSE will introduce an auction phase in the closing of the Market with a termination at an accidental time from which the closing price will be calculated.

This price will be calculated on the basis of the algorithm for the maximization of the volume.

In case that no transactions emerge during the closing auction, the closing price will be determined on the basis of the Weighing Average of 30% of the transactions executed.

In case that no transactions have been executed during the session, the starting price will be regarded as the closing price.

The decision falls within the framework of the constant effort to improve CSE’s services and alignment with the procedures of the Athens Stock Exchange (ASE) within the framework of the Common CSE-ASE Platform.