Wiener Börse AG introduces the new “Auction Volume Discovery” (AVD) order functionality as of today. Market members of the Vienna Stock Exchange and Prague Stock Exchange can use it to place orders that are executed exclusively at auction prices – either in the opening, intraday or closing auction. These orders are activated only after the auction price has been determined and can be executed exclusively against the remaining surplus or against other AVD-orders. The new functionality unlocks additional liquidity that has previously remained untapped in exchange auctions. As a result, market participants gain additional opportunities to execute larger volumes on the Vienna Stock Exchange and Prague Stock Exchange without price impact.
Both institutional and retail investors benefit alike: increased liquidity in auctions raises the likelihood that buy and sell orders are executed at the auction price. The introduction of Auction Volume Discovery comes against the backdrop of the growing importance of auctions in equity trading as well as increasing demand for ways to access auction liquidity.
About the Vienna Stock Exchange
As the central infrastructure provider in the region, Wiener Börse AG opens doors to global markets. It unites the stock exchanges in Vienna and Prague. Listed companies benefit from maximum liquidity there, and as the market leader it offers investors fast and inexpensive trading. Wiener Börse collects and distributes price data and calculates the most important indices for a dozen markets in the region. Thanks to its unique know-how, the national exchanges in Budapest, Ljubljana and Zagreb also rely on the IT services of the Vienna Stock Exchange. In addition, it is involved in other energy exchanges and clearing houses in the region.
Disclaimer
This press release may contain certain forward-looking statements and projections based on assumptions current at the date of this press release. We assume no liability whatsoever that these forward-looking statements will occur. Furthermore, we expressly point out that this press release does not serve as a basis for an investment decision and constitutes neither an invitation to buy nor an investment recommendation by Wiener Börse AG. The information in this press release is provided without guarantee.
