Xetra® T7 offers the safeguard mechanism (circuit breaker) "volatility interruption" in the trading procedures "Continuous trading with Auctions" and "Auction" – to ensure price quality and improve price continuity.

A volatility interruption is triggered if the potential next execution price lies outside the "dynamic" or "static" price corridor around the reference price. A volatility interruption causes an additional auction price determination to be initiated. The duration of a volatility interruption may vary by Xetra® T7 market group.

The dynamic and static price corridor is determined individually for each instrument and defines the maximum percentage or absolute (symmetrically positive and negative) deviation from the respective reference price in an instrument. The width of the volatility corridors is determined individually for each instrument by the Vienna Stock Exchange. The volatility corridors are continuously reviewed and can be adjusted at any time. The following tables show the bandwidths of the volatility corridors in Xetra® T7 for each market group. The exact values of the volatility corridors per instrument are not disclosed by the Vienna Stock Exchange. 

Volatility corridors for equity market and ETFs

Volatility corridors for bond market

Volatility corridors for structured products excl. ETFs