Performance measurement for Designated Sponsors in equities, ETFs and ETPs

Release date: 31 Mar 2020

024/2020 Performance measurement for Designated Sponsors in equities, ETFs and ETPs Xetra Circular 024/20

1. Introduction

With this circular we inform you that the performance measurement in equities, ETFs and ETPs will be retroactively assessed as fulfilled for March 2020. In addition, until further notice, full-day performance measurement in equities will be suspended if the FDAX volatility rule is invoked twice on the same day. 

2. Required action

There are no required actions. 

3. Details of suspension of performance measurement

In order to take account of the increased volatility in the current stock market environment, the Management Board of FWB (Frankfurter Wertpapierbörse, the German Stock Exchange) has resolved the following:

For the month of March 2020, the performance for the Designated Sponsors in all securities tradable on Xetra is retroactively assessed as fulfilled. 

The monthly rating for Designated Sponsors in individual shares will not be published for the month of March 2020 on the Xetra website www.xetra.com. 

As of 1 April 2020 until further notice, the performance measurement in shares will be suspended for the entire day and will not be rated once the FDAX volatility rule has been confirmed twice by e-mail on the same day. Designated sponsors who have not yet been placed on the distribution list for the FDAX volatility monitoring e-mail can apply for this informally at dagmar.wojcik@deutsche-boerse.com.  

The description of the FDAX volatility rule, which has been in force since January 2012, can be found in Xetra circular 150/11.

The Management Board of FWB will inform the Designated Sponsors about the cancellation of this special rule as soon as the market environment has calmed down again.  
 

Further information

Recipients:All Xetra® Members 
Target groups:Designated Sponsors
Contact:Dagmar Wojcik, Products & Regulation
T +49-69-211-1 36 45
Related circular:Xetra circular 150/11
Web:www.xetra.com
Authorised by:Michael Krogmann, Dagmar Wojcik (on behalf of the Management Board)