During 09:00 to 09:30 of POS, in 1st stage (09:00-09:15), market participants can input buy and sell orders within the ±15% of previous close. In 2nd stage (09:15-09:22), buy order could be placed between the previous close -15% and upper price limit, sell order could be placed between the previous close +15% and lower price limit.

•Lower price limit = lowest ask at 9:15 (if highest bid > lowest ask) or highest bid at 9:15 (if highest bid < lowest ask)
•Upper price limit = highest bid at 9:15 (if highest bid > lowest ask) or lowest ask at 9:15 (if highest bid < lowest ask)