Since 2018, a new tick size regime for equities, depositary receipts and ETFs which was established by ESMA (European Securities and Markets Authority) has been in effect in Xetra® T7 of the Vienna Stock Exchange.

The tick size regime comprises six liquidity bands (LB1 to LB6) and provides uniform rules for the smallest possible price change (tick size) of an instrument. The basis for the allocation of shares, depositary receipts, exchange traded funds and investment funds to a liquidity band is the "transparency calculation" performed by ESMA annually. 

Please note

    • the tick size for shares, certificates represented by shares (Depositary Receipts) and Exchange Traded Funds (ETFs) may differ per instrument.
    • in the event of a change in the liquidity band of an instrument, those orders whose limit does not conform to the tick size of the new liquidity band will be deleted.
    • bonds, certificates and warrants are not assigned to a liquidity band, but different tick indices can still be applied.
    • participants will be informed in case of an adjustment of a liquidity band by a circular.

    The following overview shows the currently valid price intervals for trading on the Vienna Stock Exchange:

    Liquidity band for equities, depositary receipts, Exchange Traded Funds and investment funds

    LB11LB22LB33LB44LB55LB66
    0 ≤ price < 0.10.00050.00020.00010.00010.00010.0001
    0.1 ≤ price < 0.20.0010.00050.00020.00010.00010.0001
    0.2 ≤ price < 0.50.0020.0010.00050.00020.00010.0001
    0.5 ≤ price < 10.0050.0020.0010.00050.00020.0001
    1 ≤ price < 20.010.0050.0020.0010.00050.0002
    2 ≤ price< 50.020.010.0050.0020.0010.0005
    5 ≤ price < 100.050.020.010.0050.0020.001
    10 ≤ price < 200.10.050.020.010.0050.002
    20 ≤ price < 500.20.10.050.020.010.005
    50 ≤ price < 1000.50.20.10.050.020.01
    100 ≤ price < 20010.50.20.10.050.02
    200 ≤ price < 500210.50.20.10.05
    500 ≤ price < 1.0005210.50.20.1
    1.000 ≤ price < 2.000105210.50.2
    2.000 ≤ price < 5.00020105210.5
    5.000 ≤ price< 10.000502010521
    10.000 ≤ price < 20.00010050201052
    20.000 ≤ price < 50.0002001005020105
    50.000 ≤500200100502010

    LB = liquidity bands
    0 ≤ Ø daily number of transactions < 10
    10 ≤ Ø daily number of transactions < 80
    3 80 ≤ Ø daily number of transactions < 600
    600 ≤ Ø daily number of transactions < 2000
    5 2000 ≤ Ø daily number of transactions < 9000
    6 9000 ≤ Ø daily number of transactions

    Tick size for bonds and certificates (percentage quotation)

    0.01 percentage points

    Tick size for bonds and certificates (unit quotation) and warrants

    at a price > EUR 1 - 0.01
    at a price ≤ EUR 1 - 0.001