Introduction of Siemens Energy AG in Xetra trading on 28 September 2020

Release date: 25 Sep 2020

068/2020 Introduction of Siemens Energy AG in Xetra trading on 28 September 2020Xetra Circular 068/20

1. Introduction

Subject to the issuer's admission to the Regulated Market (Prime Standard), we hereby inform you about the procedure for the first price determination on trading venue Xetra (MIC: XETR) for shares of Siemens Energy AG on 28 September 2020.

First trading day: 28 September 2020

2. Action required

Trading Members have to make sure that the Product Assignment Group of the new instrument is assigned to their trader groups.

3. Details of the first price determination

The following trading parameters will apply:

Trading model: Continuous Trading

Instrument nameShort codeISINProduct Assignment Group

Siemens Energy AG

ENR

DE000ENER6Y0

DAX1

Effective 29 September 2020, Siemens Energy AG shares will be assigned to the Product Assignment Group GER0.

Please note that the market opening for the Siemens Energy AG share will take place in parallel with the Siemens AG share. Please refer to the paragraph below or the table with the schedule for the first price determination for details.

Pre-trading on the first trading day will start from 07:30 CE(S)T. The call phase for the first auction (Opening Auction - Opening Auction Call; display in Xetra: “OpnA”) will start at 08:50 CE(S)T and will last at least 10 minutes. Consequently, the first price determination in Xetra trading will take place not earlier than 09:00 CE(S)T.

The following will apply to the Opening Auction:

During the Opening Auction Call Phase, if the order book is crossed, the indicative auction price, auction volume and auction surplus (volume and side) will be displayed. If the order book is not crossed during the Opening Auction Call Phase, the best bid limit and the best ask limit with their respective volumes will be displayed.

Directly after the Opening Auction, Continuous Trading will follow.

Please note the following special procedures:

  • Orders entered with trading restriction “OAO” (Opening Auction only) will only be considered in the first auction of the exchange trading day, i.e. in the first price determination for the shares. Orders entered with trading restriction “AOO” (Auction only) will be considered in the opening auction, the intraday auction and the closing auction.
  • The usual safeguards in Xetra (MIC: XETR) will also be applied in the Opening Auction. Therefore, a volatility interruption may occur following the Auction Call Phase.
  • The intraday auction starts at 13:00 CE(S)T and takes at least two minutes.
  • If an exceptional number of orders is executed in any one auction, it may lead to delays in processing confirmations.
  • Moreover, the “Market Model for the Trading Venue Xetra®” applies.

Treatment regarding the DAX® index:

With the coming into effect of the spin-off of Siemens Energy AG from Siemens AG, an adjustment to the DAX® index will be required. Therefore, the Siemens Energy AG share will be included for one day in the DAX® index in order to ensure that investors are able to track the index. 

On 28 September 2020, after close of trading, the Siemens Energy AG share will be removed from the DAX® index and the weighting of the Siemens AG share will be adjusted accordingly.

Schedule for the first price determination for shares of Siemens Energy AG on 28 September 2020 on trading venue Xetra (MIC: XETR):

Time
(CE(S)T)*
DescriptionComments

As of 07:30

Start of pre-trading phase (phase „Book”)

Order entry, modification and deletion are possible. 

As of 08:50

 Start of auction call phase with a
minimum duration of 10 minutes (phase „OpnA”)
 

Order entry, modification and deletion are possible. Information is disclosed about the indicative auction price, auction volume and auction surplus or the best bid and ask limit including volume are displayed.

09:00 earliest

 

Xetra price determination

 The first price and the volume will be displayed on Xetra and disseminated to vendors etc. via CEF®
  Continuous Xetra trading
(Phase „Cont“)
  

* CEST = Central European Summer Time. The actual changes of trading phases in the Xetra trading system are decisive.


Further information

Recipients:

All Xetra® Members and Vendors

Target groups:

Traders, Security Administrators

Contact:

Cash Markets Operations Helpline, tel. +49-69-211-1 14 00

Authorised by:

(on behalf of the Management Board) Christopher Turba, Bärbel Raschke