Official Transactions

When a member of the stock exchange market has at the same time buying and sales orders from different clients of the same type of security, he has to communicate it to the group. In case appearing offers demand with the same price, they must adjudicate to the new counterpart a determined percentage, regulated by the present norm of securities to be applied. In case of the appearance of more advantageous positions of offers and demands the same agent may not compensate the sales and buying orders of his clients. In this way, it is guaranteed that the fixed prices are really taken from the law of supply and demand.

The closing change of a session is the last to be marked in it. This change marks the base for the variation limits of the next session and is the one which rules for all the types of fiscal and economic valuations of the day. In any case, all the quotations registered in a session are official.

At the end of the official session, the members of the ruling society get together to issue the “quotation certificate,”  which reflects the changes occurred during the session and which constitutes as an official quotation record.

In this meeting, known as “Act of Quotation”, the members can fix changes for securities that were not taken into account by the group to complete operations at the unattended positions. What an agent cannot do, is to modify the quotations registered by the group.

In case there is any proposed operations at different prices than those of the market and because of its importance it is justified. The ruling society may authorize it before beginning the session.

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