11.3 Opening

¹ The Exchange shall open continuous trading with an auction.

² The Exchange shall extend the auction time once for a defined period if the theoretical opening price is outside the applicable Stop Trading Range compared to the reference price (Delayed Opening).

³ The Exchange shall not open trading if not all unlimited orders are executed in the auction procedure (Non Opening). In this condition, a theoretical opening price (TOP) can also be calculated.

⁴ The Exchange shall not hold an auction as long as continuous trading in the underlying security is interrupted (underlying condition).