(a)

price collars, which automatically block orders that do not meet pre-set price parameters on an order-by-order basis;

(b)

maximum order value, which automatically prevents orders with uncommonly large order values from entering the order book by reference to notional values per financial instrument;

(c)

maximum order volume, which automatically prevents orders with an uncommonly large order size from entering the order book.

(a)

their automated application has the ability to readjust a limit during the trading session and in all its phases;

(b)

their monitoring has a delay of no more than five seconds;

(c)

an order is rejected once a limit is breached;

(d)

procedures and arrangements are in place to authorise orders above the limits upon request from the member concerned. Such procedures and arrangements shall apply in relation to a specific order or set of orders on a temporary basis in exceptional circumstances.