Xetra auction plan

Xetra permits continuous trading and auctions. In continuous trading an order is executed immediately as soon as a corresponding counter order is available. Auctions are carried out at the beginning and end of trading as well as several times during the day. They concentrate liquidity in one share to a certain period of time.

Continuous trading and auctions are structured according to the following scheme. The auction plan can also be downloaded as a .pdf file.

Auction Plan (As of: 31 March 2011)

* Auctions with random end (max. 30 Sec.)
* * For DAX stocks on Eurex settlement days 5 minutes
All times are an approximation. Relevant are the trading phase changes in the trading system Xetra.