Price Steps

Execution prices must be determined in accordance with pre-defined price steps (minimum ticks). SWX Europe assigns each security to a specific price step category.

Once the price of a given security trades within a new price range, the corresponding price step takes immediate effect. The various applicable price steps are published in the Product Specifications and Trading Organisation table.

A limit order which does not correspond to the applicable price step, will be rejected by the Exchange System.

For further information see Directive 5: Price Steps and Round Lots.