- Low liquidity issues subject to periodic call auction which shall be announced at the end of December of the year are determined by the average trading cycle, calculated as the result of annual liquidity test.
An issue that falls under any of the following items during the period from the assessment period to the first trading day of the effective period shall be excluded from the list of low liquidity issues subject to periodic call auction.
- a. An issue for which a liquidity provision agreement was entered into and put in force;
- b. An issue of which average trading cycle for the 3 months immediately preceding the first trading day of the effective period is 60 seconds or shorter.
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