Designated Sponsors in shares: Introduction of a rating fee for highly liquid shares

Release date: 19 Nov 2019

080/2019 Designated Sponsors in shares: Introduction of a rating fee for highly liquid sharesXetra Circular 080/19 Designated Sponsors in shares: Introduction of a rating fee for highly liquid shares

1. Introduction 

With this circular, we would like to inform you about the following changes to the Designated Sponsor concept for shares:

  •  Introduction of a monthly rating fee for shares in liquidity category A (high liquids), effective 1 January 2020

2. Introduction of a rating fee for shares in the liquidity category A (High Liquids)

As already announced in Xetra circular 072/19, Deutsche Börse AG will levy for the first time a monthly rating fee for shares in the liquidity category A (high liquids), effective 1 January 2020. Designated Sponsors who have commissioned Deutsche Börse AG to produce ratings for instruments in the liquidity category A, will be charged a monthly fee of € 50 for each instrument in the liquidity category A which is included in the RPTDS007 rating report at the end of the month.

If the Designated Sponsor wishes to receive a rating for highly liquid shares in future, he can activate the commissioning of the rating in his profile in the eListing Tool under "Administration" and "Rating Profile". It is possible to cancel the rating at any time with effect from the next month.

The "Rating Profile" will be available to the Designated Sponsor from 1 December 2019. In order to apply for a rating in highly liquid shares for January 2020, the activation flag must be set by 31 December 2019 at the latest. An activation in the course of January 2020 would not allow the inclusion of highly liquid shares in the rating report until 3 February 2020. The activation flag applies to all relevant highly liquid shares in the liquidity category A and does not allow individual instruments to be selected. 

Please note that for the quarterly rating, a highly liquid share is only taken into account for which the rating was calculated every three months. To define a share as "highly liquid" for the quarterly rating, the last trading day at the end of the quarter applies. 

You will always find the current list of shares in liquidity category A on the Xetra website www.xetra.com under the following link:  

This is adjusted quarterly. 

Further information on the Designated Sponsor Rating concept can be found in the Designated Sponsor Guide under the same path. 

Recipients:All Xetra® Members and Vendors
Target groups:

Designated Sponsors, Traders, Technical Contacts, System Administrators

Contact:Dagmar Wojcik, dagmar.wojcik@deutsche-boerse.com, Tel. +49-69-211-1 36 45
Related Circular(s):Xetra circular 072/19
Authorized by:Martin Reck, Dagmar Wojcik