Shares and other securities can be traded on Xetra® from 9.00 a.m. to 5.30 p.m.

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 times equities, company issued warrants and ETFs (as of 03/11/2003)

Auctions have a random end (max. 30 sec.), *on Eurex settlement days the call phase of the intraday auction lasts 5 minutes for DAX stocks