Bulgarian Stock Exchange Expands Price Ranges Triggering Halts in Trading by 30%

“In view of the high volatility in the financial markets worldwide, BSE-Sofia informs all its members that the price ranges causing volatility interruptions shall be extended by 30%,” the bousre said in a statement.

The bourse can expand the price range by up to 30% for a single trading session to prevent suspension of trading. It resorted to this move every trading day of this week except Thursday.

According to the BSE rules the shares traded on the bourse’s official market have a dynamic price range of 5.0% of the reference price, and the static price range is set at 10% of the last price achieved at an auction.

The Sofia bourse's blue-chip index SOFIX was 5.33% down to 604.74 points and BG 40 was 7.17% down to 152.51 points by 0730 GMT on Friday.

The markets in Asia and Europe opened deep in the red on Friday on concerns that the credit crisis will lead to a global recession.