Introduction of PharmaSGP Holding SE in Xetra trading on 19 June 2020

Release date: 18 Jun 2020

043/2020 Introduction of PharmaSGP Holding SE in Xetra trading on 19 June 2020Xetra Circular 043/20

1. Introduction

Subject to the issuer’s admission 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 PharmaSGP Holding SE on 19 June 2020.

First trading day: 19 June 2020

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 name  Short code  ISINProduct Assignment Group

PharmaSGP Holding SE

  PSG

 DE000A2P4LJ5

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 normal Opening Auction with the following information:

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:

  • Prior to the first price determination, the allocation price will be displayed as reference price (in Xetra: “LstPrc”).
  • 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.

Schedule for the first price determination for shares on 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. The reference price corresponds to the allocation price.

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“)
  

* CEST = 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:

Xetra Trading Helpline, tel. +49-69-211-1 14 00

Authorised by:

(on behalf of the Management Board) Steffen Weyel, Christopher Turba