Guaranteed Better Prices: Spot Trading
Spot trading in DAX®-stocks up to a value of 500 Euro with no spread.
Tradegate Exchange, the stock exchange for private investors, is expanding its successful trading model to include spot prices, a separate, continuous price fixing which automatically makes sure that small-sized orders are executed in full and at an especially low-priced rate.
Since its foundation in 2010 Tradegate Exchange has not charged trading commission or fees. With spot trading, a further product innovation, the exchange aims to contribute to the strengthening of the equity culture in Germany by providing more cost-effective share trading for small investors and equity plan savers.
Spot trading is available in all stocks for which the specialist responsible provides an up to date spot quote. What is more, DAX®-stocks can be traded with no spread because the specialist responsible for price fixing, Tradegate AG Wertpapierhandelsbank, guarantees the execution of buy and sell orders up to a value of 500 Euro at the current standardised spot price.
The most important details at a glance:
Spot trading is available in all stocks for which the specialist responsible provides an up to date spot quote. For DAX® stocks the specialist is obliged to provide up to date spot quotes continually.
Size of order
Orders with a value of up to 500 Euro may be executed in spot trading. Orders in other stocks may be executed as long as their volume does not exceed the volume of the binding spot quote made available by the specialist at the time of the order entry into the electronic trading system.
Available order types
Spot trading is available for limit and market orders.
Each order is checked automatically by the electronic trading system for its immediate and full execution in spot trading, an additional order instruction is not necessary. If the order cannot be executed in spot trading then it is executed in the Continuous Auction.
The execution in spot trading occurs at the current spot price. The price correlates with the price of whichever side of the current spot quote the order is executed against. The specialist responsible for price fixing guarantees to provide a spot quote without spread in all DAX® stocks (i.e. to “sort” at the current spot price).
Both the current spot quotes and the trade conclusions in spot trading are earmarked separately and published in the pre and post trading transparency information on the tradegate.de website.
No part executions
Part executions are not possible in spot trading.
Spot trading is a special form of trading and price fixing but still part of regular exchange trading on the Tradegate Exchange. Just as the rest of exchange trading it is therefore subject to supervision by the independent Trading Surveillance Office. The Trading Surveillance Office also monitors compliance with the guaranteed price quality of the responsible specialist.
Following determination of the first exchange price of the trading day in Continuous Auction, spot trading is available the whole day.
The regulatory details for spot trading may be found in the Exchange Rules, the Conditions for Transactions on the Tradegate Exchange and the Announcement on Spot Trading.
Please note terms & conditions
DAX®, MDAX®, TecDAX® and SDAX® are registered trademarks of the Deutsche Börse AG
EURO STOXX®-stocks indicate financial instruments of the trademark “EURO STOXX”, STOXX Limited and/or its licenser.
TRADEGATE® is a registered trademark of Tradegate AG Wertpapierhandelsbank
All prices in Euro
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