The Abu Dhabi Securities Exchange (ADX) will launch a big blocks market during the existing trading sessions from March 3, Mondovisione reports. ADX will trade big blocks through brokers during normal trading hours and will display them in a separate market watch. Big block prices will not, however, affect the closing price of the security nor will they be included in the index or high and low statistics. To qualify for big block trades, the number of shares to be traded must not be less than 1% of the capital of the company, the initiator of the trade must be one person, while the counter-parties should not exceed 10 investors. The requirement also includes the price of the transaction to not differ by more than 25% from the previous closing price.
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