12.5 Continuous trading

¹ Incoming orders and quotes shall be executed in one or more parts at equal or different prices in accordance with the price-time priority principle taking into account the quote-based pricing.

² If an order or quote cannot or can only be partially executed, the remainder shall remain in the orderbook. Other order specifications remain reserved.

³ An incoming quote shall be executed with an existing order at the quote price (and not at the order price) if the quote quantity is greater than or equal to the order quantity (Quote Domination). If a better limit remains on the opposite side than the incoming quote price, this limit shall determine the price of the transaction.

⁴ The Exchange may in certain instances suspend continuous trading.

⁵ The reference price shall correspond to the last paid price.

⁶ The Exchange may adjust the reference price in certain cases.