Follow-up obligations Regulated Market

Follow-up obligations Open Market

Submission of changes with regard to issue volume placed

The market is to be continually kept up to date on changes to overall bond issue volume by means of changes submitted in reference to the placed issuance volume.

Obliged are issuers

  • in Scale for corporate bonds
  • of corporate bonds in Basic Board

Briefly, this needs to be done:

  • the company profile has to be updated with regard to the issuance volume placed and
  • subsequently transmitted to Deutsche Börse AG via the Exchange Reporting System (ERS)

Legal basis

  • Sect. 22 Paragraph 1 Let. b) GTC DBAG for issuers of bonds in Scale
  • Sect. 28 Paragraph 1 and Sect. 22 Paragraph 1 Let. b) GTC DBAG for issuers of bonds in Basic Board

Creation, expiry and interim cycle

The first update by the issuer must be made at the latest after the end of the subscription period via DirectPlace. Subsequently, the issuer must continue updating and submitting its company profile with regard to issuance volume placed at least once a month until the end of the placement. Monthly updates and submissions are no longer necessary when all bonds have been placed.

Requirements for subsequent submission

After every update of the company profile with regard to issuance volume placed, the issuer must submit the updated company profile to Deutsche Börse AG via the Exchange Reporting System-interface (ERS).

Frequently asked questions

How does Deutsche Börse AG sanction violations of this follow-up obligation?

Deutsche Börse AG can impose a contractual penalty on the negligent issuer. The precise amount of the penalty imposed by Deutsche Börse AG depends in particular on the duration and extent of the violation and the significance of the violation for the capital market.

Deutsche Börse AG may also publish the penalty imposed, naming the issuer and the specific violation, on its internet site.


Rule Enforcement

Phone +49 (0) 69 - 211 – 1 38 88

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