Market Notice 39/21 – Spotlight Stock Market – Update of tick size bands in accordance with MiFID II

As of Thursday February 25, 2021, Spotlight Stock Market will implement new tick size bands for equity following an update from the European Securities and Markets Authority (ESMA) based on the requirements in MiFID II and the Delegated Regulation (EU) 2017/588. All order books affected by the new tick sizes will be flushed after market close on Wednesday February 24, 2021.

The tick size table has six liquidity bands based on the average daily number of transactions (ADNT) in instruments traded on the most relevant market in terms of liquidity, for equity or depositary receipt. Each

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