Market Surveillance in Germany

Market Surveillance in GermanyMarket Surveillance ensures the proper conduct of trading

Functioning market surveillance is essential for exchange trading to be conducted properly and prices to be determined in a manner consistent with regulations. In Germany, several institutes cooperate closely in this sector.

Federal Financial Supervisory Authority (BaFin) Exchange Supervisory Authority (BAB)
Trading activities and market participants
Trading Surveillance Office (TSO)
Their aim is to ensure national and international standards are upheld.

Exchange Supervisory Authority

The exchange supervisory authorities operate at state level. In the State of Hesse the exchange supervisory authority is incorporated into the Hessian Ministry of Economic Affairs, Transportation, and Regional Development. Its tasks include ensuring that participants admitted to exchange trading adhere to Exchange Act regulations.

In cooperation with the TSO, it supervises pricing processes and assesses irregularities and infringements of regulations reported to it. In addition, it conducts the legal supervision of the exchange bodies. In addition to the Management Board, the Exchange Supervisory Authority can also forward proceedings relating to infringements of regulations by market participants to the Sanctions Committee. As part of its activities, the Exchange Supervisory Authority also approves the regulations of Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange) and Eurex Deutschland.