As of November 24, 2008 – along with the roll-out of Xetra Release 9.1 – a new market model “ Continuous Auction with Issuer” will be implemented for trading in certificates. All certificates which are currently traded in continuous trading will be moved to continuous auction as of November 24, 2008. Certificates traded in one single auction are not affected.
With the implementation of the new market model for certificates, the calculation of the daily settlement price for certificates will be stopped by Vienna Stock Exchange and replaced by a Price without Turnover (PWT-Price), which is generated directly by the issuer of the product – PWT-Prices update the last price.
Key Facts “Continuous Auction with Issuer”
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