Annual FWB® trading participant due diligence

Release date: 06 Jan 2020

001/2020 Annual FWB® trading participant due diligenceXetra Circular 001/20

1.   Introduction

Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange) is required to verify the due diligence of its trading participants in order to ensure that all trading participants are compliant with the requirements of the Frankfurt Stock Exchange applicable to the usage of their electronic order systems.

The legal basis is article 7 of the Commission Delegated Regulation 2017/584 in conjunction with Directive 2014/65/EU, whose requirements were transposed into article 16 (2) of the Exchange Rules for the Frankfurter Wertpapierbörse (FWB). Please find the Exchange Rules on our website www.xetra.com under this link:

2.   Required action

Trading participants of the Frankfurt Stock Exchange are required to submit the Due Diligence statement by latest 17 January 2020

The Due Diligence statement is available here.

Central Coordinators are requested to enter their company details, the personal PIN (please note that the PIN was sent to the Central Coordinator and is the same that was used to submit the Readiness Statement), tick the respective boxes and submit the Due Diligence statement. 

Should you have lost your PIN or not received a PIN, please contact your Key Account Manager.

If you have any questions regarding the Due Diligence statement or in case you do not fulfil one or more requirements, please contact directly Regulatory Processing on tel. +49-69-211-1 58 58 or via e-mail to: regulatory.processing@deutsche-boerse.com.
 

3.   Details of the Regulation

Frankfurt Stock Exchange’s annual member due diligence covers the following categories:

  • Criteria as stipulated in the Exchange Rules for FWB, in particular Section III
  • Criteria as stipulated in Article 7 of Commission Delegated Regulation 2017/584 (Due diligence for members of trading venues)
  • Requirements related to appropriate testing of the Member's trading system, trading algorithm or trading strategy in accordance with Article 9 - Conformance testing of Commission Delegated Regulation 2017/584
  • If applicable for your company, requirements as outlined in Commission Delegated Regulation 2017/589 of 19 July 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards specifying the organisational requirements of investment firms engaged in algorithmic trading
  • If applicable for your company, requirements related to appropriate testing of the Member's algorithms to avoid disorderly trading conditions in accordance with Article 10 of Commission Delegated Regulation 2017/584.

Further information

Recipients:All Xetra® Members
Target groups:Traders, Technical Contacts, Security Administrators, System Administrators, Nominated Persons, General
Contact:Regulatory Processing, regulatory.processing@deutsche-boerse.com, T +49-69-211-1 58 58
Web:www.xetra.com
Authorized by:Cord Gebhardt, Annette Czypull