A member of
Eurex
1. Introduction
On 1 July 2021, the German Financial Market Integrity Strengthening Act (Finanzmarktintegritätsstärkungsgesetz, FISG) and, in the course of this, Section 50a para. 3 of the German Stock Exchange Act (Börsengesetz) (hereafter: Stock Exchange Act) entered into force. Accordingly, the Management Board of an Exchange is obligated to decide whether and under which circumstances decisions on measures and sanctions pursuant to Section 22 para. 2 sentence 1 of the Stock Exchange Act against Trading Participants shall be published on the website of the Exchange.
Against this background, since 1 July 2021, the Management Board of Eurex Deutschland has examined all decisions on measures and sanctions pursuant to Section 22 para. 2 Sentence 1 Stock Exchange Act to determine whether, after due consideration of the public and private interests involved, publication is required. At the time of dissemination of this circular, no publications have yet been made.
2. Required action
For Trading Participants, there is no action required in connection with the new legal situation and publication procedure.
3. Details
Since 1 July 2021, the Management Board of Eurex Deutschland has exercised the discretion granted to it in Section 50a para. 3 Stock Exchange Act and will henceforth publicize decisions on measures and sanctions pursuant to Section 22 para. 2 sentence 1 Stock Exchange Act against Trading Participants on the Eurex website, in accordance with the legal provisions, for the duration of five years, taking into account the legally protected interests of the Trading Participants concerned.
The publication shall be made on the basis of a decision by the Management Board after weighing the interests concerned. In general, public interest in the publication will weigh more heavily the more serious the violation of which the Trading Participant concerned is accused and its significance for the capital market.
In making its decision, the Management Board will observe the limits of its discretion. These include the principle of equal treatment (Art. 3 German Basic Law, Grundgesetz, GG), the principle of proportionality (Art. 20 GG) as well as discretion-guiding administrative rules from the authorizing law. Accordingly, among other things, such decisions may not be made public by which measures "of an investigative nature" are imposed (Section 50a para. 2 sentence 2 Stock Exchange Act). In connection with information which – as is always the case when publicizing a possible violation of the law by the person concerned – may affect the reputation of the person concerned, the general right of personality of the person affected by the publication must be observed, among other things (Art. 2 para. 1 in conjunction with Art. 1 para. 1 GG, Art. 19 para. 3 GG). Data protection law applies to personal data.
The Management Board will individually inform Trading Participants affected by the respective publication about the intended publication in advance.
Further information
Recipients: | All Trading Participants of Eurex Deutschland and Vendors | |
Target groups: | Front Office/Trading, Middle + Backoffice, IT/System Administration, Auditing/Security Coordination | |
Contact: | client.services@eurex.com | |
Web: | www.eurex.com | |
Authorized by: | Michael Peters |
Market Status ⓘ
XEUR
The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.
Please find further information about incident handling in the Emergency Playbook published on the Eurex webpage under Support --> Emergencies and safeguards. Detailed information about incident communication, market re-opening procedures and best practices for order and trade reconciliation can be found in the chapters 4.2, 4.3 and 4.5, respectively. Concrete information for the respective incident will be published during the incident via newsboard message.
We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.
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