{"id":7789,"date":"2016-04-12T17:59:56","date_gmt":"2016-04-12T15:59:56","guid":{"rendered":"https:\/\/www.fma.gv.at\/en\/?page_id=7789"},"modified":"2018-01-09T15:56:40","modified_gmt":"2018-01-09T14:56:40","slug":"compliance-with-trading-rules","status":"publish","type":"page","link":"https:\/\/www.fma.gv.at\/en\/capital-markets\/market-abuse\/compliance-with-trading-rules\/","title":{"rendered":"Compliance with trading rules"},"content":{"rendered":"<?xml encoding=\"utf-8\" ?><p>The trading rules of Wiener B&ouml;rse AG are designed among other things, to counteract and prevent potential market abuse. The supervision of trading in listed securities is intended to ensure that all transactions comply with the rules of fair and proper trading. In this context compliance with the trading rules of Wiener B&ouml;rse AG pursuant to Article&nbsp;33 para.&nbsp;1 of the Stock Exchange Act 2018 (B&ouml;rseG 2018; B&ouml;rsegesetz 2018) is also monitored.<\/p><p>&nbsp;<\/p><h2>Example of trading rules<\/h2><p>As an example, two particular trading rules are described below:<\/p><p>\n<div class=\"card\">  <div class=\"card-header\" id=\"heading-6a38598ddb6cd\">    <h3 class=\"mb-0\">      <button class=\"btn btn-link btn-block text-left p-0 d-flex align-items-center justify-content-between\" type=\"button\" data-toggle=\"collapse\" data-target=\"#collapse-heading-6a38598ddb6cd\" aria-expanded=\"false\" aria-controls=\"collapse-heading-6a38598ddb6cd\">        <span>&sect; 18 Self-dealing (Cross Trades)<\/span>        <i class=\"fa-solid fa-chevron-down text-primary\" aria-hidden=\"true\"><\/i>      <\/button>    <\/h3>  <\/div>  <div id=\"collapse-heading-6a38598ddb6cd\" class=\"collapse\" aria-labelledby=\"heading-6a38598ddb6cd\">    <div class=\"card-body\"><p><\/p><p>An exchange member is not allowed to enter opposing trades that refer to the same security and could lead to the execution of an order in the electronic trading system (cross trade) if they knowingly act as an agent, or when deploying Algorithmic Trading Engines negligently, on both the buy and the sell side for their own account or for the account of one and the same customer. Sentence 1 applies accordingly to any other behaviour that bypasses this rule.<\/p><p>    <\/div>  <\/div><\/div><p>\n<div class=\"card\">  <div class=\"card-header\" id=\"heading-6a38598ddb709\">    <h3 class=\"mb-0\">      <button class=\"btn btn-link btn-block text-left p-0 d-flex align-items-center justify-content-between\" type=\"button\" data-toggle=\"collapse\" data-target=\"#collapse-heading-6a38598ddb709\" aria-expanded=\"false\" aria-controls=\"collapse-heading-6a38598ddb709\">        <span>&nbsp;&sect; 12 Types of orders<\/span>        <i class=\"fa-solid fa-chevron-down text-primary\" aria-hidden=\"true\"><\/i>      <\/button>    <\/h3>  <\/div>  <div id=\"collapse-heading-6a38598ddb709\" class=\"collapse\" aria-labelledby=\"heading-6a38598ddb709\">    <div class=\"card-body\"><p><\/p><p>(1) Exchange members may enter the following types of orders into the trading system:<\/p><ol>\n<li>Limit orders: buy and sell orders entered with a price limit to be executed at that price limit or better.<\/li>\n<li>Market orders (or best orders): buy and sell orders that are entered without defining a price limit and which are intended to be executed at the next price determined by the trading system.<\/li>\n<\/ol><p>(2) When they are entered, agent orders must be marked as agent orders (agent), nostro orders must be marked as nostro orders (proprietary) and market maker orders as market maker orders (designated sponsors), while orders of a liquidity provider trading in participation certificates and warrants in a continuous auction must be marked as orders of the liquidity provider (issuer), and include the following information:<\/p><ul>\n<li>buy\/sell price (bid\/ask);<\/li>\n<li>class of securities;<\/li>\n<li>nominal value\/number;<\/li>\n<\/ul><p>    <\/div>  <\/div><\/div><p>\n<\/p><p>&nbsp;<\/p><h2>Penal provisions<\/h2><p>The penal provisions for the breaching of trading rules are set out in Article&nbsp;106 para.&nbsp;1 no.&nbsp;2 B&ouml;rseG 2018. A breach of trading rules shall be punished as an administrative offence shall be punished with a fine of up to EUR&nbsp;5&nbsp;000&nbsp;000 or up to double the amount of the gain arising from the breach, where this amount is able to be determined.<\/p><h2>Further information:<\/h2><p>\n<div id=\"reference-6a38598ddb724\" class=\"reference\"><h2 class=\"reference-heading\"><span class=\"fa-solid fa-puzzle-piece fa-fw\" aria-hidden=\"true\"><\/span>Related Topics<\/h2><p><\/p><p><a href=\"https:\/\/www.fma.gv.at\/en\/capital-markets\/market-abuse\/\">Market abuse<\/a><br>\n<a href=\"https:\/\/www.fma.gv.at\/en\/capital-markets\/market-abuse\/insider-dealing\/\">Insider dealing<\/a><br>\n<a href=\"https:\/\/www.fma.gv.at\/en\/capital-markets\/market-abuse\/market-manipulation\/\">Market manipulation<\/a><br>\n<a href=\"https:\/\/www.fma.gv.at\/en\/capital-markets\/market-abuse\/reporting-of-suspicious-transactions\/\">Reporting of suspicious transactions and orders<\/a><\/p><p><\/div><p>\n<div id=\"reference-6a38598ddb739\" class=\"reference\"><h3 class=\"reference-heading\"><span class=\"fa-solid fa-scale-balanced fa-fw\" aria-hidden=\"true\"><\/span>Law<\/h3><p><\/p><p><a href=\"https:\/\/www.ris.bka.gv.at\/NormDokument.wxe?Abfrage=Bundesnormen&amp;Gesetzesnummer=20009944&amp;Paragraf=33\" class=\"external\" target=\"_blank\" rel=\"noopener\">Article 33 para. 1 B&ouml;rseG 2018<\/a><\/p><p><\/div><p>\n<div id=\"reference-6a38598ddb746\" class=\"reference\"><h2 class=\"reference-heading\"><span class=\"fa-solid fa-download fa-fw\" aria-hidden=\"true\"><\/span>Download<\/h2><p><\/p><p>\n<a href=\"\/wp-content\/plugins\/dw-fma\/download.php?d=1801&nonce=e0e67ee6b4529178\" class=\"internal single-document-reference piwik_download\">Handelsregeln der Wiener B\u00f6rse AG (<span class=\"sr-only\">Format: <\/span>pdf, <span class=\"sr-only\">Size: <\/span>349,8 KB, <span class=\"sr-only\">Language: <\/span>German)<\/a>\n<\/p><p><\/div><p>\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The trading rules of Wiener B&ouml;rse AG are designed among other things, to counteract and prevent potential market abuse. The &#8230;<\/p>\n","protected":false},"author":10,"featured_media":0,"parent":8472,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"footnotes":""},"class_list":["post-7789","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Compliance with trading rules - FMA \u00d6sterreich<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fma.gv.at\/en\/capital-markets\/market-abuse\/compliance-with-trading-rules\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Compliance with trading rules - FMA \u00d6sterreich\" \/>\n<meta property=\"og:description\" content=\"The trading rules of Wiener B&ouml;rse AG are designed among other things, to counteract and prevent potential market abuse. 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