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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:

Tradeable securities

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.

Automatic execution

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.

Price quality

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).

Transparency

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.

Independent supervision

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.

Trading hours

Following determination of the first exchange price of the trading day in Continuous Auction, spot trading is available the whole day.

Regulations

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.

 

Copyright © 2017 Tradegate Exchange GmbH
Merci de respecter les dispositions en vigueur

DAX®, MDAX®, TecDAX® et SDAX® sont des marques déposées de la société Deutsche Börse AG.
Les titres EURO STOXX®-Werte sont des actions de la marque « EURO STOXX », STOXX Limited et/ou leur donneur de licence.
TRADEGATE® est une marque déposée de la société Tradegate AG Wertpapierhandelsbank

Tous les cours sont libellés en EUR.