The trading models: As individual as your needs

Trading in securities is a highly individual matter: Every trading participant has his own motivation, his own objectives and his own needs. For this reason, we have developed various trading models to ensure that you can trade in securities exactly as you set your focus. 

Above all, our customized solutions guarantee the following advantages:

  • You steer your orders specifically into order-driven or time-driven auctions
  • You choose between a settlement in Euro or a foreign currency
  • This does not result in great efforts for you: You simply decide on the trading model that suits you best

The trading models at a glance

Continuous auctions in Euro (order-driven)

Within the context of Continuous auctions in Euro, trading is order-driven: As soon as an order is placed or the valuation of the security varies, an ongoing examination is performed to determine whether a potentially executable order situation is given. If this is the case, a price fixing is initiated, and the orders are executed. Immediately after an auction has finished, the next one will be initiated.

Tradable securities: Shares, bonds, funds & ETPs, participation certificates and
securitized derivatives

Settlement: Euro

One auction in Euro (time-driven)

In the trading model One auction in Euro, trading is time-driven: Within a fixed period of time, only one auction per day is being carried out. Within this period of time, an analysis is made on the basis of the existing order and the valuation in the security to ascertain whether a potentially feasible order situation exists. If so, a price determination is activated, and the orders are settled.

Tradable securities: Shares, bonds, funds & ETPs, participation certificates and
securitized derivatives

Settlement: Euro

XSTF One auction in Euro (time-driven) Find all securities

Continuous auctions in a foreign currency (order-driven)

Within the scope of the trading model Continuous auctions in a foreign currency, trading is order-driven: In the case of an order being received or a varying valuation of the security, it will be continuously examined whether a potentially feasible order situation arises. If the examination proves to be positive, a price determination is triggered, and the orders are carried out. Thereby, the following applies: As soon as an auction is completed, the next one starts.

Tradable securities: Bonds and securitized derivatives

Settlement: A foreign currency.

► An overview of the foreign currencies at your disposal can be found here (only available in German).

Overview of the foreign currencies Have a look

One auction in a foreign currency (time-driven)

In the trading model One auction in a foreign currency, trading is time-driven: Within a defined time frame, only one auction per day is being processed. In this time frame, the existing orders and the valuation in the security are used as a basis to identify whether a potentially executable order situation emerges. If this does apply, a price fixing is launched, and the orders are completed.

Tradable securities: Bonds and securitized derivatives

Settlement: A foreign currency.

Here, you’ll find the foreign currencies you can use for this purpose (only available in German).