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Version status: Applicable | Document consolidation status: Updated to reflect all known changes
Version date: 1 November 2012 - onwards
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Article 23 Significant fall in value for financial instruments other than liquid shares

1. In respect of a share other than a liquid share, a significant fall in value during a single trading day compared to the closing price of the previous trading day means:

(a) a decrease in the price of the share of 10 % or more where the share is included in the main national equity index and is the underlying financial instrument for a derivative contract admitted to trading on a trading venue;

(b) a decrease in the price of the share of 20 % or more where the share price is EUR 0,50 or higher, or the equivalent in the local currency;

(c) a decrease in the price of the share of 40 % or more in all other cases.

2. An increase of 7 % or more in the yield across the yield curve during a single trading day for the relevant sovereign issuer shall be considered a significant fall in value for a sovereign bond.

3. An increase of 10 % or more in the yield of a corporate bond during a single trading day shall be considered a significant fall in value for a corporate bond.

4. A decrease of 1,

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