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Cash market – trading models and services

Cash market – trading models and servicesTransparent, fair trading models

A trading or market model describes the process by which orders are transformed into transactions. High liquidity, continuous innovation and a maximum of security characterise our trading models.

Xetra


The trading or market model defines the principles of order matching and price determination for the trading venue Xetra. This includes available trading models, the priorisation of orders, the different order types and the transparency level. The support of Designated Sponsors ensures that continuous trading on Xetra is available for less liquid securities.

Trading models

Xetra offers the "continuous trading with auctions" service for trading liquid securities. More

Order types

Orders are binding instructions to buy and sell, which market participants enter in the order book. In addition to choosing an order type, a trading participant can define the execution conditions, as well as validity and trading limitations for each order. More

Protective mechanisms

Protective mechanisms come into play in the auction and continuous trading models. They are designed to improve price continuity, preserve price quality, increase the execution probability of market orders and avoid mistrades. The safeguards are in particular volatility interruptions as well as extended volatility interruptions. More

Trading parameters and tick sizes

Download the trading parameters for Xetra. More