Xetra EnLight

Xetra EnLight

With Xetra EnLight, Frankfurt Stock Exchange offers an on-exchange request-for-quote (RFQ) functionality for off-book trading in the cash market. Via Xetra EnLight, Members can execute trades in equities, ETFs and ETPs through an RFQ workflow. Xetra EnLight enables Members to leverage the full range of Deutsche Börse Group’s service offering: from trading to clearing to settlement, transaction reporting and post-trade transparency (trade reporting).

In addition, Xetra EnLight increases the execution probability for high volume orders, particularly in German SMEs, through “Smart RFQ”. This is possible through identification of further quote providers based on historical trading and post-trading data who are then sent requests for quotes.

The following trading parameters apply to Xetra EnLight:

  • In general, trading via Xetra EnLight is possible in all securities which are traded in the electronic trading system T7 at the trading venue Xetra (MIC: XETR).
  • Trading takes place from 09:00 CET until 17:45 CET, i.e. via Xetra EnLight, offers may only be requested, entered and accepted during this time period.
  • For ETFs and ETPs a minimum RFQ size of €100.000 is applied. For equities, there is no restriction on size.
  • In general, the automated procedure “Smart Request for Quote” (Smart RFQ) is offered for all securities which are tradable on T7 at the trading venue Xetra (MIC: XETR).

Registered Xetra EnLight Respondents

EnLight Respondent

Equities*

ETFs/ETPs*

Bankhaus Lampe KG

Yes

Commerzbank AG

 Yes

Flow Traders B.V.

 Yes

M.M. Warburg & CO (AG & Co.)

Yes 

MainFirst Bank AG

Yes 

Mediobanca Banca di Credito Finanziario S.p.A

YesYes

ODDO SEYDLER BANK AG

Yes 

Optiver V.O.F.

YesYes

Raiffeisen Centrobank AG

Yes 

Susquehanna International Securities Ltd.

 Yes

* The list is updated every month. A daily updated overview can be found here ("SRQS Respondents Assignment List")

Trading parameters for Xetra EnLight as well as information on registering as a Xetra EnLight Respondent (Quote Provider) can be found here.

Market Status

XETR

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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.

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.

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