Please note that closing prices may be established as early as 17:45 hours CET.
German government bonds (Bunds):
Standard price determination for all German federal government bonds (Bunds) takes place daily from 11:00h CET with involvement from the Deutsche Bundesbank. These price determinations bear the ‘cash market’ order type qualifier (KS/spot market auction).
Foreign currency bonds:
All foreign currency bonds are settled in euro.
To increase pre-trade transparency, since 1 February 2013 binding rules have applied to the conversion of bonds denominated in foreign currencies to euro.
Foreign currency bid and ask prices are generally fixed every thirty minutes on the basis of the interbank foreign exchange trading* rates. The quality liquidity provider (QLP) is obliged to determine the settlement rate within the fixed exchange rate spread.
Please bear in mind that sales (purchases) will be executed at the fixed foreign exchange bid price (ask price) or lower.
Since 16 April 2018, trading participants who have a foreign currency account have the option of trading in foreign currency bonds at the Stuttgart Exchange in their nominal currency at no additional conversion costs. This service is provided on the technical trading platform FXplus.
*plus the maximum discount/premium per currency pair determined by the Management Board.