Art. 30

(Art. 30 FinMIA)

1. The trading venue shall set transparent rules and procedures for fair, efficient and orderly trading, as well as objective criteria for the effective execution of orders. It must have measures in place to ensure the robust management of technical processes and the operation of its systems.
2. It must possess effective systems, procedures and arrangements to ensure in particular that its trading facilities:
   1. are robust and equipped with sufficient capacity to deal with peak volumes of orders and announcements;
   2. are in a position to ensure orderly trading under conditions of severe market stress;
   3. are subject to effective emergency measures so that the restoration of business operations can be guaranteed in the event of disruptions to its trading facilities;
   4. reject orders that exceed pre-determined volume and price thresholds or are clearly erroneous;
   5. are in a position to suspend or restrict trading temporarily if there are significant short-term price movements with respect to a security on that market or a related market;
   6. are in a position to cancel, amend or correct any transaction in exceptional cases; and
   7. are regularly reviewed with a view to ensuring that the requirements under letters a to f are met.
3. It must enter into an agreement, in writing or in another form that that allows for its proof by text, with all participants holding a special function, in particular participants that pursue a market-making strategy in the trading venue. It shall maintain systems and procedures that ensure that these participants comply with the regulations.¹
4. It may also prescribe in its regulations that participants must flag up short-selling positions in its trading facility.