1. Introduction

With this circular, we inform you about the amendments to the Exchange Rules for the Frankfurter Wertpapierbörse (“Exchange Rules”) by means of the 21st Amendment Ordinance to the Exchange Rules and the amendments to the Conditions for Transactions on the Frankfurter Wertpapierbörse (“Conditions for Transactions”) by means of the 12th Amendment Ordinance to the Conditions for Transactions.

Several amendments to the Exchange Rules and the Conditions for Transactions will become effective on 8 April 2024.

The amendment ordinances referred to above are attached to this circular. The amended Rules and Regulations including the amendment ordinances are accessible on the Xetra website www.xetra.com under the following link: FWB Rules & Regulations.

Effective date: 8 April 2024

2. Required action

There is no specific action required by the participants.

3. Details of the initiative

A. Exchange Rules

a)    Cessation of the Written Form Requirement for Order-Routing Systems

In the future, there will be no formal requirements for admitted companies when submitting their application to connect an order-routing system at the Frankfurter Wertpapierbörse (“FWB^®”, the Frankfurt Stock Exchange) via the Member Section portal. Accordingly, the written form requirement pursuant to § 37 Para. 2 of the Exchange Rules is no longer applicable.

b)    Introduction of the Xetra Retail Service

With the introduction of the Xetra Retail Service, FWB is offering a new trading service that offers private investors improvements in the execution price with a complete waiver of transaction fees or reduced transaction fees.

In order to participate in the Xetra Retail Service, the admitted company has to conclude an agreement as Retail Member Organisation (”RMO”) or Retail Liquidity Provider (“RLP”) with Deutsche Börse AG. The respective documents are accessible at www.xetra.com under the following link: Xetra - Trading fees and charges.

While the RMO function may already be applied, the RLP function will be available as of 20 May 2024. 

The introduction of the above-mentioned trading service required amendments to the Exchange Rules in §§ 1, 73, 83, 94, 95, 117, 118.

B. Conditions for Transactions

Extension of the period for Mistrade Applications

The period for the submission of Mistrade Applications within the meaning of § 24 Para. 3 Sentence 1 of the Conditions for Transactions will be extended from 10 minutes to 30 minutes for the benefit of the Trading Participants. 
 

Attachments:

• 1 – 21st Amendment Ordinance to the Exchange Rules for the Frankfurter Wertpapierbörse
• 2 – 12th Amendment Ordinance to the Conditions for Transactions on the Frankfurter Wertpapierbörse

Further information