Amendment to the Price List for the Utilization of the Exchange EDP of FWB Frankfurt Stock Exchange and of the EDP XONTRO, valid as of 1 August 2019

Release date: 19 Jun 2019

055/2019 Amendment to the Price List for the Utilization of the Exchange EDP of FWB Frankfurt Stock Exchange and of the EDP XONTRO, valid as of 1 August 2019Xetra Circular 055/19

1. Introduction

With this circular, we would like to inform you about changes to the Price List for the Utilization of the Exchange EDP of FWB Frankfurt Stock Exchange and of the EDP XONTRO (Price List), concerning Part A, valid as of 1 August 2019.

The changes to the Price List concern the following:
       1. Transaction fees for Exchange Traded Funds and Exchange Traded Products
       2. Designated Sponsor programme
       3. Market Maker programmes
 

2.    Details of the initiative
2.1. Transaction fees for Exchange Traded Funds and Exchange Traded Products (ETFs/ETPs)

The transaction fees for lean orders in ETFs/ETPs will be reduced by one third (for example the High Volume Fee Model, from 0.36bp to 0.24bp) and will be valid for orders and quotes that have been entered via the Propretary Account and marked as “passive” by the T7 trading system.

In return, transaction fees for lean orders in ETFs/ETPs will be excluded from the lean order rebate model. Moreover, the total value of executions of an order, executed with the same version number on a trading day, which will be used to calculate the maximum fee limit, will be increased from € 375,000 to €1,000,000. Furthermore, savings plan orders and robo advisory orders in ETFs/ETPs will not be charged.

The respective rule changes can be found in section 2.2.1.2 and 2.2.3.1 of the Xetra Price List.
 

2.2 Designated Sponsor programme

The refund of transaction fees for Designated Sponsors will be granted, if orders and quotes have been marked as “passive”. Passive orders and passive quotes will therefore be treated equal. In return, a refund of transaction fees for aggressive orders or additional credits will no longer be granted.  

The respective rule changes can be found in section 2.2.3.2 of the Xetra Price List.
 

2.3 Market Maker programmes

Market Makers in ETFs/ETPs are granted refunds of 50 per cent of transaction fees for orders and quotes which have been executed via the M-Account and marked as “passive”, given that the Market Maker has fulfilled the minimum requirements for liquidity provision both in general and under “Stressed Market Conditions”.

The respective rule changes can be found in section 2.2.3.5 of the Xetra Price List.

The existing Market Maker Programme for Stressed Market Conditions will solely apply for executed orders and quotes in equities, which are marked as “passive”, given that the Market Maker has fulfilled the minimum requirements for liquidity provision both in general and under “Stressed Market Conditions”.

The respective rule changes can be found in section 2.2.3.4 of the Xetra Price List.

The amendments to the Price List will be deemed to be approved unless the Trading Member or Vendor admitted at the Frankfurt Stock Exchange files objections to the amendments with Deutsche Börse AG, Mergenthalerallee 61, 65760 Eschborn, Germany, in writing within six weeks after the amendments’ announcement.


Attachment:

Price List for the Utilization of the Exchange EDP of FWB Frankfurt Stock Exchange and of the EDP XONTRO, valid as of 1 August 2019



Recipients:All Xetra® Members and Vendors
Target groups:Traders, Technical Contacts, System Administrators, Nominated Persons, General
Contact:client.services@deutsche-boerse.com
Authorized by:Martin Reck, Andreas Heuer (on behalf of the Management Board)