Moscow Exchange Changes Parameters of FX Iceberg Orders

[kreslik.news]

Moscow Exchange (MOEX), Russia’s largest institutional trading venue, today announced a package of changes designed to better manage iceberg orders for FX spot transactions, which executes a large volume order into smaller disclosed amounts.

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The MOEX has reduced the required minimum displayed amount of an iceberg order to 1,000 lots from the previously applied 5,000 lots, effective May 22, 2017. The reduced order book transparency associated with iceberg orders aims to boost liquidity on big lots, the exchange said.

The iceberg order is a large single order that has been divided ... (read more)