10 Trade suspension

¹ In particular, the Exchange may suspend trading if:

1. in the Central Limit Order Book the next price compared to the reference price is outside a range (Stop Trading Range) determined by the Exchange (Stop Trading or Delayed Opening);
2. in the Central Limit Order Book the next price compared to a transaction is within a certain time period (Avalanche Time), outside a range (Stop Trading Range) determined by the Exchange (Avalanche Stop Trading);
3. in the Market Maker Book there is no quote in the orderbook on the opposite side at the time of a possible execution. Trading shall not be suspended if a limited order with the same price remains in the order book on the same side (buy/sell) of the orderbook as the quote executed last, provided that the limited order was already in the order book at the time of the execution of the quote; or
4. trading in the underlying is suspended.

² The stop trading range and the duration of the Stop Trading Duration as well as the Avalanche Time in connection with the Avalanche Stop Trading shall be determined by the Exchange per market segment. The Exchange shall publish exceptions for individual securities in a suitable manner.

³ The participant may enter new orders and quotes during a trade suspension or delete existing ones.

⁴ After expiry of a trade suspension, the book shall be reopened with an auction.

⁵ Market control interventions remain reserved in accordance with the Market Control Directive.