Pre-trade and Post-trade Transparency Rules for Regulated Markets and MTFs
What is understood by pre-trade and post-trade transparency?
Pre-trade transparency: Obligation to disclose supply and demand (bid and ask) in the orderbook
Post-trade transparency: Obligation to disclose trades already executed
Within the scope of the obligation to pre-trade transparency, Wiener Börse AG must disclose current buy and sell prices and their respective trading volumes, at reasonable commercial terms and on a continuous basis during regular business hours, for the shares admitted to a regulated market and included in its trading system.
For the purpose of post-trade transparency, Wiener Börse AG must disclose the prices, the sizes and the time of execution, as far as possible in real time and at reasonable commercial terms, for executed trades in shares admitted to listing on a regulated market and included in its trading system.
Post-trade transparency: Obligation to disclose trades already executed
Within the scope of the obligation to pre-trade transparency, Wiener Börse AG must disclose current buy and sell prices and their respective trading volumes, at reasonable commercial terms and on a continuous basis during regular business hours, for the shares admitted to a regulated market and included in its trading system.
For the purpose of post-trade transparency, Wiener Börse AG must disclose the prices, the sizes and the time of execution, as far as possible in real time and at reasonable commercial terms, for executed trades in shares admitted to listing on a regulated market and included in its trading system.
Wiener Börse AG Services
Pre-trade and post-trade information shall be considered disclosed if disseminated to investors,
for example, via the facilities of a regulated market or an MTF. Wiener Börse AG offers its
customers pre-trade and post-trade information via the service
Wiener Börse Live or
with a 15 minute time delay via the
price information system.
Additionally, Wiener Börse AG will disseminate such information as usual to the diverse data
vendors.