Stock Exchanges

Exchange Rules for the Frankfurt Stock Exchange (FWB) (2006)

Exchange Rules for the Frankfurt Stock Exchange 2881 KB

Content

I. Part: Organization
- § 1 Areas of Business
- § 2 Administrating and Operating Institution of the Exchange
- § 3 Exchange Supervisory Authority
II. Part: Exchange Council
- § 4 Responsibilities of the Exchange Council
- § 5 Composition of the Exchange Council
- § 6 Term of Office of the Exchange Council
- § 7 Chairperson of the Exchange Council; Deputy Chairpersons
- § 8 Quorum and Resolutions of the Exchange Council
III. Part: Board of Management
- § 9 Exchange Management
- § 10 Responsibilities of the Board of Management
- § 11 Authority of the Board of Management
IV. Part: Trading Surveillance Office
- § 12 Establishment and Operation
- § 13 Security Provided by the Trading Participants
V. Part: Admission for Access to the Exchange and to Participation in Exchange Trading
- § 14 Application for Admission
- § 15 Admission with the Right to Participate in Exchange Trading
- § 16 Conditions Governing Admission
- § 16 a Technical Requirements for Admission
- § 17 Admission of Exchange Traders
- § 18 Participation in Electronic Trading
- § 19 Evidence of the Conditions for Admission
- § 20 Admission without the Right to Participate in Exchange Trading
- § 21 Exchange Identification Cards; Visitor Identification Cards
- § 22 Cancellation, Withdrawal, Revocation and Suspension of the Admission
- § 23 Admission as Designated Sponsor in the Electronic Trading System
- § 23 a Resignation, Cancellation, Withdrawal, Revocation and Suspension of Designated Sponsor Admission
- § 23 b Rights and Obligations of Designated Sponsors
- § 23 c Monitoring and Documentation
VI. Part: Commencement, Suspension, Discontinuation and Interruption of Quotation in the Official Market and in the Regulated Market
- § 24 Introduction of Securities to Quotation in the Official Market and in the Regulated Market
- § 25 Suspension, Discontinuation and Interruption of Quotation in the Official Market and in the Regulated Market
VII. Part: Determination of Exchange Prices by Exchange Brokers, Admission for Exchange Brokers, Distribution of Order books
- 1. Subpart: General Provisions concerning the Determination of Exchange Prices
  - § 26 Opening and Closing of the Exchange
  - § 27 Determination of Exchange Prices; Prices in Euro
  - § 28 Determination of the Opening and Single Prices
  - § 29 Consideration of Transactions in the Determination of Exchange Prices
  - § 30 Central Order Book
  - § 30 a Price Determination and Execution of Orders in the Central Order Book Procedure
  - § 31 Determination of Prices in Special Cases
  - § 32 Procedure for Determination of Prices
  - § 33 Addenda and Symbols in Connection with Price Determination
  - § 34 Determination of Prices in Continuous Trading
  - § 35 Announcement of Underlying Turnover
  - § 36 Proprietary Transactions of Exchange Brokers
  - § 37 Entry into the Exchange EDP System
  - § 38 Measures in the Case of Doubt Concerning the Proper Determination of Exchange Prices and Concerning Large Price Fluctuations
  - § 39 Publication of Prices
- 2. Subpart: Admission for Exchange Brokers, Committee of Exchange Brokers
  - § 39 a Admission for Exchange Brokers
  - § 39 b Committee of Exchange Brokers
- 3. Subpart: Allocation of Order Books
  - § 39 c Scope of Applicability, Share Order Books of the official and regulated market
  - § 39 d Principles for the Allocation of Order Books
  - § 39 e Participants of the Allocation Procedure
  - § 39 f Application for Participation in the Distribution Process
  - § 39 g Notification
  - § 39 h Allocation Process
  - § 39 i Division of the Participants into Existing and New Exchange Brokers
  - § 39 j Formation of Order Books Groups
  - § 39 k Allocation of Assignment Points
  - § 39 l Consolidation of Enterprises acting as Exchange Brokers
  - § 39 m Provisional Order Book Allocation Plan for the Allocation of Order Books as of 1 July 2005
  - § 39 n Provisional Order Book Allocation Plan for the Allocation of Order Books after 1 July 2005
  - § 39 o Hearing Procedure
  - § 39 p Final Order Book Allocation Plan
  - § 39 q Decision about the Allocation of the Order Book
  - § 39 r Reallocation of Order Books within the determinable Allocation Timeframe of Order Books that have been already allocated
  - § 39 s Cancellation of Order Books
  - § 40 Scope of application, other order book groups of the official and regulated market
  - § 40 a Principles for the Allocation of Order Books
  - § 40 b Participants of the allocation procedure
  - § 40 c Application for participation at allocation procedures
  - § 40 d Notification
  - § 40 e Allocation procedure
  - § 40 f Division of applicants into groups of Existing and New Exchange Brokers
  - § 40 g Provisional order book allocation plan
  - § 40 h Hearing procedure
  - § 40 i Final Order Book Allocation Plan
  - § 40 j Decision on the allocation of order books
  - § 40 k Reallocation of Order Books within the determinable Allocation Timeframe of Order Books that have already been allocated
  - § 40 l Cancellation of Order Book
VIII. Part: Securities Transactions in the Electronic Trading System
- 1. Subpart: General Provisions
  - § 41 Electronic Trading System
  - § 41 a Exchange Hours, Trading Phases
  - § 42 Suspension, Discontinuation and Interruption of Trading
  - § 43 Documentation and Publication of Prices, Evaluation of Data
  - § 44 Determination and Monitoring of Prices, Reference Price
- 2. Subpart: Auction, Continuous Trading, Continuous Auction and Block Trading
  - § 44 a Auction and Continuous Trading
  - § 44 b Continuous Auction
  - § 44 c Block Trading
  - § 45 Determination of the First Exchange Price
- 3. Subpart: Best Execution
  - § 46 Admission as Best Executor
  - § 46 a Conduct of Best Execution
  - § 46 b Obligations of Best Executors
  - § 46 c Resignation, Cancellation, Withdrawal, Revocation and Suspension of Best Executor Admission
IX. Part: Reporting and Publication of Turnover
- § 47
X. Part: Use of the EDP Facilities
- § 48
XI. Part: Exchange Arbitration Tribunal and Expert Committee
- § 49 Arbitration Tribunal of General Jurisdiction
- § 49 a Expert Committee
XII. Part: Board of Admissions
- § 50 Responsibilities of the Board of Admissions
- § 51 Composition of the Board of Admissions
- § 52 Election; Term of Office of the Members of the Board of Admissions
- § 53 Rules of Procedure
- § 54 Exclusion of Members from Discussion and Decisionmaking
- § 55 Procedure for Decisionmaking
XIII. Part: Official Market (General Standard)
- § 56 Application for Admission
- § 57 Revocation of Admission Ex Officio
- § 58 Revocation of Admission upon Application by the Issuer
- § 59 (deleted)
XIV. Part: Sub-Sector of the Official Market with Additional Obligations Arising from Admission (Prime Standard)
- § 60 Application for Admission; Competence
- § 61 Publication of the Admission
- § 62 Financial Statements
- § 63 Quarterly Reports
- § 64 Corporate Action Timetable
- § 65 Meeting of Analysts
- § 66 Publication and Notification of Facts Influencing Market Prices in English
- § 67 Revocation of Admission
XV. Part: Regulated Market (General Standard)
- § 68 Application for Admission
- § 69 Conditions for Admission; Admission Procedure
- § 70 (deleted)
- § 71 Obligations Arising from Admission
- § 72 Exemption from the Obligation to Publish a Prospectus
- § 73 Revocation of Admission
- § 74 (deleted)
XVI. Part: Sub-Sector of the Regulated Market with Additional Obligations Arising from Admission (Prime Standard)
- § 75 Application for Admission; Competence
- § 76 Publication of the Admission
- § 77 Financial Statements
- § 78 Quarterly Reports
- § 79 Corporate Action Timetable
- § 80 Meeting of Analysts
- § 81 Publication and Notification of Facts Influencing Market Prices in English
- § 82 Revocation of Admission
XVII. Part: Inclusion of Securities in the Regulated Market (General Quoted)
- § 83 Inclusion; Competence
- § 84 Prerequisites for Inclusion
- § 85 Publication of Inclusion
- § 86 Obligations of the Applicant after Inclusion
- § 87 Notification of the Parties Involved in Exchange Trading
- § 88 Revocation of Inclusion
XVIII. Part: Regulated Unofficial Market (General Quoted)
- § 89 Regulated Unofficial Market
- § 90 (deleted)
XIX. Part: Final Provisions
- § 91 Loaned Persons
- § 92 Entering into Transactions
- § 93 (deleted)
- § 94 Making of Announcements
- § 95 Transitional Provisions
- § 96 Effective Date of the Exchange Rules