We have found an unexpected behaviour in the current SAXESS 4.8.0 production system when using orders with hidden volume (also known as iceberg orders). Under certain conditions the time priority of the order can be kept when a new time priority should have been assigned to the order. The behaviour will be corrected in the new SAXESS release on June 2nd 2008. For further questions please contact your local surveillance or Market Place Operations.
Please, see the attached file for further information.
Best regards
Equities Markets
