• Pre-open 09:30 - 10:00
• continuous trading - 10:00 - 16:25
• Pre-close 16:25 - 16:30

The step of quotation is different depending on the absolute value of the issue

Price range (RON)	Step quotation (RON)
up to 0,0999	0,0001
0,1 – 0,499	0,0010
0,5 – 0,999	0,0050
1 – 4,999	0,0100
5 – 9,999	0,0500
over 10,00	0,1000

• The standard market lot is 500 lots. The following exceptions exist.
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    NONSTANDARD MARKET LOTS

    SYMBOL COMPANY SEGMENT MARKET LOT ALU ALUMIL ROM INDUSTRY S.A. REGS 10 BRD BRD – GROUPE SOCIETE GENERALE S.A. REGS 10 COTR SC TRANSILVANIA CONSTRUCTII SA REGS 1 MJM MJ MAILLIS ROMANIA S.A. REGS 10 PEI PETROLEXPORTIMPORT S.A. REGS 1 STK STK Emergent REGS 1 TEL C.N.T.E.E. TRANSELECTRICA REGS 10 TGN S.N.T.G.N. TRANSGAZ S.A. REGS 1 SNO SANTIERUL NAVAL ORSOVA S.A. REGS 100 UZT UZTEL S.A. REGS 100 COCR COCOR SA Bucuresti REGS 10 IPHI IPROCHIM SA Bucuresti REGS 10 PRBU PRACTIC SA Bucuresti REGS 10 PRSN PROSPECTIUNI SA BUCURESTI REGS 10 SCDM UNIREA SHOPPING CENTER SA Bucuresti REGS 10 SCTO SOCOT SA TG.MURES REGS 10 SIDR SIDERMA SA Bucuresti REGS 100 VENU VENTILATORUL REAL ESTATE SA BUCURESTI REGS 100 METG METEX SA Targoviste REGS 100 CMVX COMVEX SA CONSTANTA REGS 100 COTE CONPET SA Ploiesti REGS 100 CCRL COMCEREAL SA Constanta REGS 100 REFE REMARUL 16 FEBRUARIE SA CLUJ NAPOCA REGS 100 FLAO FLAROS SA BUCURESTI REGS 100 COBS COMINCO SA Bucuresti REGS 100 GALF GALFINBAND SA GALATI REGS 100 AGEM LAFARGE AGREGATE si BETOANE SA Bucuresti REGS 100 INBW INSCUT BUCURESTI SA REGS 100 MECP MECON SA BRASOV REGS 100 COAU COMPONENTE AUTO SA Topoloveni REGS 100 MOBG MOBEX SA TG.MURES REGS 100 ROMT ROMPORTMET SA GALATI REGS 100 UNVR UNIVERS SA Rm. Valcea REGS 100 ALRV ALIMENTARA SA Slatina REGS 100 IASX IASITEX SA IASI REGS 100 ASCE ASCO SA Bacau REGS 100 FIMĂ FIMARO SA Cluj REGS 100 SEVE SEVERNAV SA DR. TR. SEVERIN REGS 100 STIB STIROM SA Bucuresti REGS 100 TEHO BEGA TEHNOMET SA TIMISOARA REGS 100 VASX VASTEX SA Vaslui REGS 100 NEPT NEPTUN SA Campina REGS 100 INBO INDUSTRIALIZAREA LAPTELUI DAMBOVITA SA REGS 100 TALD TALC DOLOMITA SA HUNEDOARA REGS 100 PREH PREFAB SA BUCURESTI REGS 100 PRAE PRODLACTA SA Brasov REGS 100 GOVG COMPANIA DE NAVIGATIE FLUVIALA ROMANA NAVROM SA Galati REGS 100 ATPA ATHENEE PALACE SA BUCURESTI REGS 100 PTRO ARCELORMITTAL TUBULAR PRODUCTS ROMAN SA REGS 100

Dynamic - is determined by the reference price

• ± 15% - Standard
• ± 25% - if not a 'buy / sell for more than 15 minutes in a price range ± 15%, it extends to ± 25%;
• ± 40% - if not a 'buy / sell for more than 15 minutes in a price range ± 25%, it extends to ± 40%;

• According to the price :
  - Market - performed at the price at which the demand or supply;
  - Limited - performed introduced a specific price;
  - Hidden - are seen no more than 20% of the pledged amount.
• According to the period of validity:
  - For the day - valid for the trading session
  - Open - valid until execution / cancellation, but not more than 62 calendar days
  - Expiration date - valid until a date not more than 62 calendar days
  - FOK (FILL-or-Kill) - is performed immediately or canceled
  Romanian market does not allow short selling and margin trading.

Fulfils on T + 3, delivery versus payment (DVP)



Presently, the tax charged for the capital gains obtained from trading on a regulated market in Romania is 16%. Due to the Agreement on the Avoidance of Double Taxation, concluded between Romania and Bulgaria, the income gained on the regulated Romanian capital market by Bulgarian residents might be levied in Bulgaria. For the current moment, the tax in Bulgaria is at the rate of 10%. To take this advantage, a Bulgarian resident should bring an original copy of Residency Certificate issued by Bulgarian National Revenue Agency, which to be presented to the Romanian Tax Authorities.

Note: To a great extent, Taxation depends on the specific circumstances related to every single client and it could be revised in future.