Directive regarding lower limit circuit breaker

Bangladesh Securities and Exchange Commission
Market and Intermediaries Affairs Division
Surveillance Department www.sec.gov.bd

No. BSEC/Surveillance/2020-975/359

24 April 2024

ORDER

Whereas, the Bangladesh Securities and Exchange Commission, in the interest of investors and securities market and for the development of securities market, has decided to issue certain further direction for regulating the share price movement of the listed securities in the stock exchange trading as a temporary arrangement till further notice;

Now, therefore, in exercise of the power conferred by the section 20A of the Securities and Exchange Ordinance, 1969 (Ordinance No. XVII of 1969), the Bangladesh Securities and Exchange Commission hereby directs the Dhaka Stock Exchange PLC and the Chittagong Stock Exchange PLC the followings: -

(a) Circuit limit as applicable as per the Commission's Order No. BSEC/Surveillance/2020-975/219 dated 17 June 2021 shall remain unchanged for upper limit for all securities, and standard downward price change limit (circuit breaker) of 3.0% (three percent) shall be applicable for all securities other than securities in the floor price;

(b) Clause (b) of the Commission's Order No. BSEC/Surveillance/2020-975/345 dated 06 February 2024 shall have no effect.

This Order shall be effective from 25 April 2024.

By order of the Bangladesh Securities and Exchange Commission

(Signature)
Professor Shibli Rubayat-Ul-Islam
Chairman
24/4/24

Bangladesh Securities and Exchange Commission
Market and Intermediaries Affairs Division
Surveillance Department www.sec.gov.bd

No. BSEC/Surveillance/2020-975/345

06 February 2024

ORDER

Whereas, the Bangladesh Securities and Exchange Commission has decided that, in the interest of investors and securities market and for the development of securities market, certain further direction shall be issued for regulating the share price movement of the listed securities in the stock exchange trading;

Now, therefore, in exercise of the power conferred by the section 20A of the Securities and Exchange Ordinance, 1969 (Ordinance No. XVII of 1969), the Bangladesh Securities and Exchange Commission hereby directs the Dhaka Stock Exchange PLC and the Chittagong Stock Exchange PLC the followings: -

(a) Floor price and other conditions as imposed vide the Commission's Order No. BSEC/CMRRCD/2001-07/39 dated 28 July 2022:
i) shall continue and remain in force until further order for the 06 (six) securities namely: BEXIMCO, BSRMLTD, ISLAMIBANK, KPCL, MPETROLEUM and SPCL; ii) shall continue up to the forthcoming respective record date for the 03 (three) securities: BATBC, GP and ROBI;

(b) Upper limit and lower limit of the circuit breaker will be applicable as per the Commission's Order No. BSEC/Surveillance/2020-975/219 dated 17 June 2021 for all securities not included in the floor price regulation of the Commission;

(c) The Commission's Order No. BSEC/Surveillance/2020-975/339 dated 22 January 2024 is hereby repealed.

This Order shall be effective from 07 February 2024.

By order of the Bangladesh Securities and Exchange Commission

(Signature)
Professor Shibli Rubayat-Ul-Islam
Chairman

Bangladesh Securities and Exchange Commission
Market and Intermediaries Affairs Division
Surveillance Department www.sec.gov.bd

No. BSEC/Surveillance/2020-975/339

22 January 2024

ORDER

Whereas, the Bangladesh Securities and Exchange Commission has decided that, in the interest of investors and securities market and for the development of securities market, certain further direction shall be issued for regulating the share price movement in the stock exchange trading;

Now, therefore, in exercise of the power conferred by the section 20A of the Securities and Exchange Ordinance, 1969 (Ordinance No. XVII of 1969), the Bangladesh Securities and Exchange Commission hereby directs the Dhaka Stock Exchange PLC and the Chittagong Stock Exchange PLC the followings: -

(a) Floor price and other conditions as imposed vide the Commission's Order No. BSEC/CMRRCD/2001-07/39 dated 28 July 2022 shall be applicable only for the 12 (twelve) securities listed with stock exchanges [List attached];

(b) Upper limit and lower limit of the circuit breaker will be applicable for the all securities other than the 12 (twelve) securities [List attached] as per the Commission's Order No. BSEC/Surveillance/2020-975/219 dated 17 June 2021; and

(c) The Commission's Order No. BSEC/Surveillance/2020-975/338 dated 18 January 2024 is hereby repealed.

This Order shall be effective from 23 January 2024.

By order of the Bangladesh Securities and Exchange Commission

(Signature)
Professor Shibli Rubayat-Ul-Islam
Chairman

List of 12 (twelve) listed securities

Sl	Scrip
1	ANWARGALV
2	BATBC
3	BEXIMCO
4	BSRMLTD
5	GP
6	ISLAMIBANK
7	KPCL
8	MPETROLEUM
9	ORIONPHARM
10	RENATA
11	ROBI
12	SPCL

(Signature)
22/1/24

Bangladesh Securities and Exchange Commission

No. BSEC/CMRRCD/2001-07/39

28 July 2022

Order

Whereas under the post covid and recent global economic situation the Bangladesh securities and Exchange Commission has decided that in the interest of investors and securities market and for the development of securities market, certain further direction shall be issued for regulating the share price movement in the stock exchange trading on temporary basis.

Now, therefore, in exercise of power conferred by section 20A of the Securities and Exchange Ordinance, 1969 (Ordinance No. XVII of 1969), the Bangladesh Securities and Exchange Commission hereby directs the Dhaka Stock Exchange Limited and the Chittagong Stock Exchange Limited the following, namely: -

(a) Opening price of any listed security shall be set at the average of the closing price of July 28, 2022 and closing price of immediately preceding 4 (four) trading days and this average price calculated for each security shall be considered as the floor price and lowest limit of the circuit breaker;

(b) In case of corporate actions relating to dilution effect, floor price of a listed security shall be adjusted/ diluted market price or reference price or floor price on immediate prior record date on the basis of declared corporate actions relating to stock dividend or right issue.

(c) Floor price for the newly listed security shall be reference price for the closing price of the first trading day.

(d) Other conditions of the Commission's Order No. BSEC/CMRRCD/2001-07/229 dated 14 November 2019 shall remain unchanged, but the downward price change limits (circuit breaker) shall not be lower than the floor price.

(e) The Commission's Order No. BSEC/Surveillance/2020-975/81 dated 25 May, 2022 is hereby repealed.

(f) This Order shall have immediate effect and shall remain in force until further order.

By order of the Bangladesh Securities and Exchange Commission

(Signature)
Professor Shibli Rubayat-Ul-Islam
Chairman

Securities Commission Bhaban, E-6/C Agargaon, Sher-e-Bangla Nagar Administrative Area, Dhaka-1207, Bangladesh Phone (PABX): +88-02-55007131-2, Fax: +88-02-55007106, Email: info@sec.gov.bd, Web: www.sec.gov.bd

Bangladesh Securities and Exchange Commission

No. BSEC/Surveillance/2020-975/219

17 June 2021

ORDER

Whereas, the Bangladesh Securities and Exchange Commission is satisfied that, in the interest of investors and securities market and for the development of securities market, certain directions shall be issued for regulating the share price movement in the stock exchange trading;

Now, therefore, in exercise of the power conferred by section 20A of the Securities and Exchange Ordinance, 1969 (Ordinance No. XVII of 1969), the Bangladesh Securities and Exchange Commission hereby directs the Dhaka Stock Exchange Limited and the Chittagong Stock Exchange Limited the following, namely: -

(1) Standard upward and downward price change limits (circuit breaker)-based on reference price, or previous trading day's closing price:

Price limits	Price change limits
01. Up to Tk. 200	10% (Ten Percent)
02. Above Tk. 200 to Tk. 500	8.75% (Eight Point Seven Five Percent)
03. Above Tk. 500 to Tk. 1000	7.50% (Seven Point Five Zero Percent)
04. Above Tk. 1000 to Tk. 2000	6.25% (Six Point Two Five Percent)
05. Above Tk. 2000 to Tk. 5000	5% (Five Percent)
06. Above Tk. 5000	3.75% (Three Point Seven Five Percent)

(2) Circuit breaker for any newly listed security:
Usual applicable circuit breaker mentioned in paragraph 1 shall be imposed from the first trading day of any newly listed securities.

The Bangladesh Securities and Exchange Commission hereby repeals the order No. BSEC/CMRRCD/2001-07/04 dated 19 March 2020, directive No. BSEC/CMRRCD/2009-193/05 dated 01 March 2021, order No. BSEC/Surveillance/2020-975/202 dated 7 April 2021, order No. BSEC/Surveillance/2020-975/205 dated 10 April 2021, order No. BSEC/Surveillance/2020-975/212 dated 03 June 2021.

This Order shall have immediate effect and shall remain in force until further order.

By order of the Bangladesh Securities and Exchange Commission

(Signature)
Professor Shibli Rubayat-Ul-Islam
Chairman

Securities Commission Bhaban, E-6/C Agargaon, Sher-e-Bangla Nagar Administrative Area, Dhaka-1207, Bangladesh Phone (PABX): +88-02-55007131-2, Fax: +88-02-55007106, Email: info@sec.gov.bd, Web: www.sec.gov.bd