Introduction of Vitesco Technologies Group AG in Xetra trading on 16 September 2021

Release date: 15 Sep 2021

064/2021 Introduction of Vitesco Technologies Group AG in Xetra trading on 16 September 2021Xetra Circular 064/21

1. Introduction

Subject to the issuer's inclusion to the Regulated Market (Prime Standard), we hereby inform you about the procedure for the first price determination on trading venue Xetra (MIC: XETR) for shares of Vitesco Technologies Group AG on 16 September 2021.

First trading day: 16 September 2021

2. Action required

Trading Members have to make sure that the Product Assignment Group of the new instrument is assigned to their trader groups.

3. Details of the first price determination

The following trading parameters will apply:

Trading model: Continuous Trading

Instrument nameShort codeISINProduct Assignment Group

Vitesco Technologies Group AG

VTSC 

DE000VTSC017  

DAX1

With effect from 17 September 2021, Vitesco Technologies Group AG will be assigned to the Product Assignment Group GER0.

Pre-trading on the first trading day will start from 07:30 CE(S)T. The call phase for the first auction (Opening Auction - Opening Auction Call; display in Xetra: “OpnA”) will start at 09:00 CE(S)T and will last at least 15 minutes. Consequently, the first price determination in Xetra trading will take place not earlier than 09:15 CE(S)T.

This will be a regular Opening Auction to which the following applies: 

During the Opening Auction Call Phase, if the order book is crossed, the indicative auction price, auction volume and auction surplus (volume and side) will be displayed. If the order book is not crossed during the Opening Auction Call Phase, the best bid limit and the best ask limit with their respective volumes will be displayed.

Directly after the Opening Auction, Continuous Trading will follow.

Please note the following special procedures:

  • Orders entered with trading restriction “OAO” (Opening Auction only) will only be considered in the first auction of the exchange trading day, i.e. in the first price determination for the shares. Orders entered with trading restriction “AOO” (Auction only) will be considered in the opening auction, the intraday auction and the closing auction.
  • The usual safeguards in Xetra (MIC: XETR) will also be applied in the Opening Auction. Therefore, a volatility interruption may occur following the Auction Call Phase.
  • The intraday auction starts at 13:00 CE(S)T and takes at least two minutes.
  • If an exceptional number of orders is executed in any one auction, it may lead to delays in processing confirmations.
  • Moreover, the “Market Model for the Trading Venue Xetra®” applies.  

Information on the procedure in the DAX® index:

With the spin-off of Vitesco Technologies Group AG from Continental AG taking effect, an adjustment in the DAX® index is also necessary. The share of Vitesco Technologies Group AG will therefore be included in the DAX® index for one day on 16 September 2021 in order to ensure that investors are able to track the index.

On 16 September 2021, after close of trading, the share will be removed from the DAX® index again and the weighting of the Continental share adjusted accordingly.

Schedule for the first price determination for shares on trading venue Xetra (MIC: XETR):

Time
(CE(S)T)*
DescriptionComments

As of 07:30

Start of pre-trading phase (phase „Book”)

Order entry, modification and deletion are possible.

As of 09:00

 

Start of auction call phase with a minimum duration of 15 minutes (phase „OpnA”)

 

Order entry, modification and deletion are possible. Information is disclosed about the indicative auction price, auction volume and auction surplus or the best bid and ask limit including volume are displayed.

09:15 earliest

 

Xetra price determination

 The first price and the volume will be displayed on Xetra and disseminated to vendors etc. via CEF®
  

Continuous Xetra trading (Phase „Cont“)

  

* CE(S)T = Central European (Summer) Time. The actual changes of trading phases in the Xetra trading system are decisive.


Further information

Recipients:

All Xetra® Members and Vendors

Target groups:

Traders, Security Administrators

Contact:

Cash Markets Operations Helpline, tel. +49-69-211-1 14 00

Web: 

 

www.xetra.com

Authorised by:

(on behalf of the Management Board) Christopher Turba, Tobias Putsche