Introduction of subscription rights on PAION AG on 24 March 2021 at Frankfurt Stock Exchange

Release date: 22 Mar 2021

019/2021 Introduction of subscription rights on PAION AG on 24 March 2021 at Frankfurt Stock ExchangeXetra Circular 019/21

1. Introduction

Subject to the inclusion in trading, trading of subscription rights of PAION AG at Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange) will take place as of 24 March 2021.

With this circular, we inform you about the parameters that will apply for trading of the subscription rights. 

Start of trading: 24 March 2021
End of trading:   31 March 2021

2. Requirements for participation

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

3. Details

The following trading parameters will apply:

Instrument name Short code ISIN CCP-eligible First trading dayLast trading day

PAION AG BZR

 

PA8B

 

DE000A2GS567

 

yes

 

24.03.2021

31.03.2021

Trading parameters for Xetra (MIC: XETR):

Product Assignment GroupMinimum order sizeTrading modelCharacteristics

GER0

1

Continuous Trading

At the end of the penultimate trading day of the subscription right, all open orders will be deleted.

On the last trading day, trading will end with a closing auction. It will start at 11:45 CE(S)T at the earliest with a duration of at least five minutes and subsequent trade-at-close period, if applicable. On this day, no intraday auction will take place.

Trading parameters for Börse Frankfurt (MIC: XFRA):

Minimum order sizeTrading modelCharacteristics

1

Continuous Auction with Special Auction

On the first trading day, trading will start with a Special Auction as of 09:00 CE(S)T. This Special Auction will take place independent from the first price determination on Xetra (MIC: XETR).

From the second until the penultimate trading day, a Special Auction will take place not before 12:00 noon CE(S)T.

At the end of the penultimate trading day of the subscription right, all open orders will be deleted.

On the last trading day, trading will end with a Special Auction as of 12:00 noon CE(S)T. This Special Auction will take place independent from the last price determination on Xetra (MIC: XETR).


Please also consider the Attachment:

  • Schedule for trading on Xetra (MIC: XETR) from the first trading day until the penultimate trading day including
  • Schedule for trading on Xetra (MIC: XETR) on the last trading day

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):

Tobias Köhler, Christopher Turba