Bolsas y Mercados Españoles (BME) will on Friday start offering trading to more than 2 decimals, Jazztel being the first company listed on the Spanish stock market to be traded under this new regime.
The reasons for trading to more than 2 decimals are the large amount of buy and sell orders for Spanish listed securities, among which are the most liquid in Europe as well as strengthening the Spanish stock market so that it will continue to be the liquidity venue where the best bid / ask positions are found.
In November 2008 BME announced that it would offer trading to up to 4 decimals in all Spanish listed securities, in this way broadening the trading options on the stock market. As of April 30th, all securities listed on the stock exchange are eligible to be traded under this arrangement.
Jazztel's common (JAZ) and preferred (JAZ.P) stock will be traded to 3 decimals and the tick size will be €0.005.