Trading models

Trading models

Xetra® is the reference market for exchange trading in German shares and Exchange Traded Funds (ETFs). No other exchange in the world achieves greater turnover at fairer market prices in these securities.
More than 90 per cent of all trading in shares at all German exchanges and about 30 per cent of trading in ETFs in Europe is transacted through Xetra. With regard to DAX® listings, Xetra even has more than 60 per cent market share throughout Europe.
Price discovery on Xetra follows clearly defined and transparent rules. Market participants, who opt for the trading venue Xetra, profit from highest liquidity and fair prices of a great market.

Continuous Trading with Auctions

Deutsche Börse Xetra Technology

The Market Model defines the principles of order matching and price determination as implemented for the trading venue Xetra. This includes available trading models, the prioritization of orders, the different order types and the transparency level, i.e. the type and the extent of information available to market participants during trading hours.

Liquidity through Designated Sponsors

Trader picture

Banks and securities firms admitted to trading at Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange) act as Designated Sponsors, increasing the shares’ liquidity by offering to buy and sell equities, thereby improving the price quality of supported equities.

Market Status

XETR

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Trading System experiencing issues

Trading System experiencing serious issues

Xetra newsboard

The Market Status Indicator displays the current technical availability of the trading system.

It indicates whether Xetra newsboard messages regarding current technical issues of the trading system have been published or will be published shortly.
We strongly recommend not to take any decisions based on the indications in the Market Status Indicator. Please always check the Xetra newsboard for comprehensive information.

An instant update of the Market Status requires an enabled up-to date Java™ version within the browser.