Wednesday, April 18, 2012

Today first trading day of Cambodia Securities Exchange (CSX)

Cambodian Securities Exchange (CSX) will officially begin trading on April 18, 2012. The trade executions are two (2) times a day, at 09:00 AM and 11:30 AM, and the settlement date of a transaction is T+2. Base price for the trading of initially listed issues shall be within 90% - 150% of the IPO price.

Mr. Hong Sokhour, CEO of CSX
1. Trading Hours
Trading starts from 08:00 to 11:30 am. Trade Executions are two (2) times a day, at 09:00 and 11:30
2. Trading Days
Trading days shall be from Monday to Friday except public holidays.
3. Type of Orders
"Limit Order" – bid price as maximum offer price, ask price as minimum offer price.
Example: A bid limit order of 40,000KHR may be traded at 40,000KHR or lower, and an ask limit order of 40,000KHR may be traded at 40,000KHR or higher.
4. Base Price
Basically, Base price should be the previous day’s closing price.
Base price for the trading of initially listed issues shall be within 90% - 150% of the IPO price (determined in the disclosure documents registered at the SECC).
In case there is a corporate action such as capital increase/decrease, stock dividend, ex-right, split off, etc., the base price will be automatically calculated by the CSX’s system using certain formula.
The prices calculated, when they are less than the price unit (tick size), should be rounded up to the price unit.
5. Daily Price Change Limit
Daily price change limit shall be ±5% of the Base-Price.
6. Trading Unit and Tick Size
The minimum trading unit of equity securities on CSX shall be one (1) share.
Minimum price movements are based on price intervals (all amounts are in KHR).
7. Validity of Orders
An order shall be valid from the time it is received in the CSX trading system to the time it is executed during the trading session of the day.
8. Correction and Cancellation of Submitted Orders
The correction or cancellation of an order shall be made only if the concerned order has not been executed. The time stamp of receiving order in the CSX’s trading system shall change to the correction time when there is price correction or quantity increase.
9. Principle of Auction
All trades shall be executed through a single price auction.
Priority of Bid/Offer Orders:
i. Price
- The lower offers have priority over higher offers; and
- The higher bids have priority over lower bids.
ii. Time
In case of the same price orders, the orders received earlier have priority over the orders received later.
10. Method and Mechanism of Trade Execution
Securities traded on the CSX shall be executed at the specific price - “the matched price”.
11. Date of Action for Ex-entitlement
The date of action for ex-dividends or ex-rights shall be one (1) trading day prior to the record date on which a person who exercised the right is determined.

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