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xetra [2017/08/08 12:16] – [Basic Market Rules] mayaxetra [2020/03/17 11:12] (current) – [Basic Market Rules] maya
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 ====== Deutsche Börse (Xetra) ====== ====== Deutsche Börse (Xetra) ======
 +
 Xetra is the primary equities market in the Deutsche Börse Group. Xetra is the primary equities market in the Deutsche Börse Group.
  
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 ==== Basic Market Rules ==== ==== Basic Market Rules ====
-  * Lot Size: 1 share. +  * Lot Size: 1 share (set to 100 shares in PPro8). 
-  * Tick Size: varies by price and security type, as defined on the [[http://www.xetra.com/xetra-en/trading/trading-venue-boerse-frankfurt/trading-parameter---tick-size/Trading-Parameters---Tick-Sizes/3072986 | Trading Parameters & Tick Sizes]] page. Tick sizes for most equities are as follows:+  * Tick Size: varies by price and security type, as defined on the [[https://www.xetra.com/xetra-en/trading/trading-models/trading-parameter-tick-size/Trading-Parameters-Tick-Sizes-26710 | Trading Parameters & Tick Sizes]] page. Tick sizes for most equities are as follows:
  
 ^ Price Range (Euro) ^ Tick Size (Euro) ^ ^ Price Range (Euro) ^ Tick Size (Euro) ^
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 | 100 and greater | 0.05 | | 100 and greater | 0.05 |
  
-  * Short Sale Rules: naked short selling is prohibited; locate required. +  * Short Sale Rules: naked short selling is prohibited; locate is required. 
-  * Circuit Breakers: Xetra has safeguards in place during the auction and continuous trading phases.+  * Circuit Breakers: Xetra has [[https://www.xetra.com/xetra-en/trading/protective-mechanisms|protective mechanisms]] in place during the auction and continuous trading phases. 
 ==== Auction Mechanisms ==== ==== Auction Mechanisms ====
  
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 1. **Regular Trading Hours** (09:00 - 17:30) 1. **Regular Trading Hours** (09:00 - 17:30)
-  * Bids and offers tagged as  "closing auction only" may be entered, amended, and cancelled until the end of day closing auction+  * Bids and offers tagged as "closing auction only" may be entered, amended, and cancelled until the end of day closing auction
    * Continuous trading occurs    * Continuous trading occurs
    * No closing orders are matched    * No closing orders are matched
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   * All other shares: 13:15 - 13:17   * All other shares: 13:15 - 13:17
  
-3. **Closing Auction** (17:30 - 17:35)+3. **Closing Auction** (17:30 - 17:34:45)
    * Bids, offers, and market orders may only be entered and not cancelled    * Bids, offers, and market orders may only be entered and not cancelled
    * No orders will be matched    * No orders will be matched
  
-4. **Uncross** (17:35)+4. **Uncross** (17:34:50)
   * Closing orders will be matched   * Closing orders will be matched
  
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 ===== See Also ===== ===== See Also =====
   * [[market_guides|Market Guides]]   * [[market_guides|Market Guides]]
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xetra.1502208975.txt.gz · Last modified: 2017/08/08 12:16 by maya