Tradegate Exchange

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Tradegate Exchange

logo
legal form Public law institution with partial legal capacity according to § 2 BörsG
founding 2009
Seat Berlin , GermanyGermanyGermany 
management Thorsten Commichau, Oliver Szabries
Branch Exchanges
Website www.tradegate.de

The Tradegate Exchange is a German stock exchange founded in 2009 with headquarters in Berlin , which specializes in the execution of private investor orders. The operator of the exchange is Tradegate Exchange GmbH (also Berlin), 59.98% (plus 1 share) of Deutsche Börse AG (Frankfurt). The remaining shares in the GmbH are held by Verein Berliner Börse eV (20.03%) and Tradegate AG Wertpapierhandelsbank (19.99%).

history

The electronic trading system Tradegate was put into operation on May 2, 2001 by Tradegate AG Wertpapierhandelsbank. It was the first German electronic, over-the-counter trading system for securities with immediate automatic execution, combined with an information platform on the Internet for private investors . With the EU-wide financial market directive , Tradegate achieved the status of a multilateral trading system (MTF) on November 1, 2007 .

On May 20, 2009, the stock exchange supervisory authority of the State of Berlin granted the stock exchange approval for the Tradegate Exchange. This was the first time since 1861 (when the Stuttgart Stock Exchange was founded ) that a new stock exchange was approved in Germany. The constituent meeting of the Exchange Council was held on December 1, 2009 ; The first trading day was January 4, 2010. Since then, the Tradegate Exchange has continued the electronic trading system Tradegate as a “ Regulated Market ” within the meaning of the Financial Market Directive.

Trading model

The main business area of ​​Tradegate Exchange is securities trading for private investors. Over 30 trading participants from Germany, Austria, France and the United Kingdom trade around 4,100 stocks , 2,400 bonds , 2,000 investment funds and 1,700 exchange-traded funds (ETF), commodity certificates ( ETC ) and bearer bonds ( ETN ). Trading hours are from 8 a.m. to 10 p.m. every trading day. The exchange prices are determined by the electronic trading system Tradegate with the support of so-called specialists who provide sufficient liquidity for trading. It is monitored (as with all stock exchanges in Germany) by the in-house management and trading surveillance office . In addition to the usual order types, the Tradegate Exchange offers special order supplements such as “ trailing stop limit ” and “ one-cancels-other ”. The trading system also automatically marks orders with a volume that does not exceed a certain level with the addition “ All or None (AON) ”, which prevents partial executions.

Trading costs and sales figures

The Tradegate Exchange bills the participants for admission and participation fees. A turnover-specific fee or brokerage fee is not charged. In addition to their bank's trading fees, end customers only have to bear the spread between buying and selling prices, which is wider outside of Xetra trading hours than during Xetra trading.

With an order book turnover of almost 106 billion euros, the Tradegate Exchange was "the largest trading venue in Germany after the Xetra platform of the Frankfurt Stock Exchange."

year Transactions (million) Order book turnover (billion)
2010 3.2 17.710
2011 5.6 32.296
2012 5.7 33,904
2013 7.7 45.330
2014 8.3 51,081
2015 11.4 75.310
2016 11.6 71.048
2017 14.5 91.173
2018 16.4 105.805
2019 18.1 123,300

Others

The market identification code (MIC) of carrying gate are XGRM for the regulated market and XGAT for the open market .

On the Internet, the exchange offers pre- and post-trade price information in real time with the corresponding number of items in accordance with Title II of the European Financial Market Regulation .

Web links

Individual evidence

  1. ↑ a b Imprint. In: http://www.tradegate.de . Tradegate Exchange, accessed December 4, 2017 .
  2. ↑ a b c d e A. v. Brevern: Press release on sales figures. (PDF, 78 kB) Tradegate Exchange, December 6, 2017, accessed on December 10, 2017 .
  3. ↑ Tradegate Exchange. Senate Department for Economics, Energy and Public Enterprises of the State of Berlin, accessed on December 31, 2019 .
  4. ^ Conditions for business on the Tradegate Exchange. (PDF; 118 KB) Tradegate Exchange, January 3, 2018, accessed on May 21, 2020 .
  5. ↑ Annina Reimann: Platform for private investors: The dubious success story of Tradegate. In: wiwo.de. August 28, 2014. Retrieved November 29, 2017 .
  6. ↑ Tradegate Exchange: Trading turnover reaches a new record high of 106 billion euros. Deutsche Börse Group, January 9, 2019, accessed on March 22, 2019 .
  7. ↑ Regulation (EU) No. 600/2014

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