The volatility interruption will be triggered on entry in the trading system of an order which, if filled, might result in one or more transactions in excess of the permitted limit of price change.
The order triggering the volatility interruption will be filled via transactions which are within the limit of price change, and a volatility interruption will be triggered automatically. The volatility interruption is similar to the pre-opening phase; member firms may enter new orders, and modify or cancel existing orders, but the orders are not matched. The price at which transactions are concluded at the end of the volatility interruption is determined by the algorithm used to determine the price in the pre-opening phase.
The volatility interruption is used in share trading. The volatility interruption may take a maximum of 13 (thirteen) minutes: 8 (eight) minutes, plus the duration of a variable ending, which may take 5 (five) minutes at most.
The reference price for monitoring price movements in percentage terms is the previous day's closing price (volume weighted average price). The reference price may be modified during the trading day as a result of the volatility interruption mechanism.
The price achieved in the course of the volatility interruption will be set as the new reference price for monitoring the price changes in percentage terms. In case the volatility interruption does not result into transactions, the reference price will remain unchanged.
Price change limits for .