13.5 Continuous trading

¹ Incoming orders shall be immediately executed in full in one or more parts in accordance with the price-time priority principle taking into account the quote-based pricing against the quotes in the orderbook or expire. No transaction may be smaller than the initial denomination.

² Incoming quotes may not be smaller than the initial denomination. The quantity shall then be validated differently than in pre-opening. Incoming quotes shall be executed in one or more parts at equal or different prices in accordance with the price-time priority principle. No transaction may be smaller than the initial denomination. Quotes which are smaller than the initial denomination after partial executions shall be deleted.

³ Orders shall be executed immediately and in full in one or more parts against the quotes in the orderbook or expire.

⁴ The Exchange may in certain instances suspend continuous trading.

⁵ The reference price shall be the price paid last. Reference price adjustments remain reserved.