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FACTBOX-Markets revise trading rules, hours, circuit breakers due to COVID-19

July 28 (Reuters) - Many global exchanges changed trading rules this year in light of the coronavirus pandemic, from shortening trading hours to altering short-selling rules, to protect their markets from intense volatility and speculative trading.

Some markets have since returned to pre-pandemic rules.

Here are some updates of the measures taken by regulators and exchanges across the world:

ASIA

INDONESIA

** The country’s central bank extended reduced trading hours this month in currency and bond markets until further notice

** Earlier this year, the stock exchange tightened circuit breaker rules, where a more than 5% drop on its main stock index will see trading halted by 30 minutes, compared with the 10% previously

** There is also a ban on short-selling

PHILIPPINES

** The stock market continues to operate for around four hours a day, which the exchange says file:///C:/Users/u6064234/Downloads/CN_2020-0051.pdf will continue until further notice

INDIA

** The Reserve Bank of India in April cut trading hours for bonds and foreign exchange to four hours

** The market regulator also halved position limits for certain stock futures, restricted short-selling of index derivatives and raised margin rates for some shares

THAILAND

** Circuit breaker rules were revised that would see a 8% drop trigger a 30-minute halt in trade; a 15% fall to initiate a 30-minute halt, and a 20% plunge will see trade halted for an hour

SOUTH KOREA

** In March, the financial regulator banned short-selling for six months

PAKISTAN:

** From July 13, Pakistan's stock exchange returned here to standard operating hours

EUROPE:

** Short-selling bans ended in six European Union states in May. They include Austria, Belgium, France, Greece, Spain and Italy

TURKEY

** A short-selling ban on the top 30 shares on Istanbul’s stock exchange was lifted at the end of June. However, the ban remains in place for other stocks

MIDDLE EAST

UNITED ARAB EMIRATES

** Shares in the United Arab Emirates stock exchanges will be allowed to drop a daily maximum of 5% from their previous day closing price, state news agency WAM reported. (Reporting by Nikhil Kurian Nainan in Bengaluru Editing by Vidya Ranganathan, Arun Koyyur, Aditya Soni and Vinay Dwivedi)

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