Order Rejection on the Tel Aviv Stock Exchange (TASE)
According to the TASE regulations each stock has a minimum order size for regular trading. The size is a stock specific calculation of a minimal monetary value at the beginning of each month. Where the value for a stock in the TA-35 index is 5000 NIS and anything outside of this is 2’000.
Please note: When an order is rejected by the exchange you will receive minimum size required by the exchange.
- Example
- Minimum Size Calculation Example:
- Bank Leumi closing price is 1000 NIS on the 1st of the Month
- Min Size is 5000/1000 = 5
- Order Placement
- Successful order: 5 LEUMI Shares
- Unsuccessful order: 4 LEUMI Shares
- Minimum Size Calculation Example:
In order to place an opening or closing order through during continuous trading you must input an order of 5
During the Opening and Closing Auction you may initiate any size limit order
For further information on the minimum order size please refer to
TASE Schedule in IST
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Sunday
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Mon - Thurs
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Pre-Opening start
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9:00
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Theoretical Price start
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9:10
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Opening Auction start
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9:45-9:46*
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Continuous Trade Phase Start
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9:45-9:46*
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Pre-closing & theoretical prices start
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16:14 -16:15*
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17:14-17:15*
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Closing Auction & end of trade
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16:24 -16:25*
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17:24-17:25*
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