Liquidity Provider Programme

Xetra Liquidity Provider Programme

The goal of the Xetra Liquidity Provider Programme is to further enhance liquidity on the exchange trading place Xetra. It incentivises the provision of liquidity at visible best bid or offer in continuous trading of pre-defined instruments on Xetra. With this programme, Deutsche Börse AG grants Liquidity Providers which contribute defined levels of liquidity a partial or full refund on Xetra transaction fees for passively executed orders and quotes.

Since its launch in October 2016, the programme has further improved order book quality for DAX shares on Xetra. A study from the Goethe University Frankfurt, published in May 2017, also shows the positive effects of the programme on liquidity and market share.

With effect from 2 September 2019, additional to DAX shares, MDAX shares were included in the Xetra Liquidity Provider Programme for a pilot phase until 28 February 2020 (please also see Xetra Circular 061/19). After the end of the pilot phase, the MDAX shares will remain in the Xetra Liquidity Provider Programme as of 1 March 2020 until further notice (see Xetra Circular 003/2020).

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Market Status




Parts of the trading system are currently experiencing technical issues

The trading system is currently experiencing technical issues

Xetra newsboard

The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.

Please find further information about incident handling in the Emergency Playbook published on the Xetra webpage under Technology --> T7 trading architecture --> Emergency procedures. Detailed information about incident communication, market re-opening procedures and best practices for order and trade reconciliation can be found in the chapters 4.2, 4.3 and 4.5, respectively. Concrete information for the respective incident will be published during the incident via newsboard message

We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.

Emergency procedures

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