Bond trading at Boerse Stuttgart is mainly geared towards retails investors. The BondxXL trading initiative has been designed to attract institutional and semi-professional investors as well by further enhancing the trading quality of selected Bondx bonds.
Euwax AG, which acts as Boerse Stuttgart’s quality liquidity provider (QLP) is committed to provide binding quotes for bonds in BondxXL for a trading volume of EUR 1 million (compared with limits of EUR 500,000 or EUR 100,000 in Bondx). At the same time, the spread in BondxXL for German government bonds has been reduced to a maximum of 5 ticks (Bondx: up to 15 ticks). For all other bonds, the maximum spread is 10 ticks (Bondx: up to 75 ticks).
If requested by the QLP, bonds listed in the trading segment Bondx may be included in BondxXL. They may also be removed with no specific notice period, although they will of course retain a listing in Bondx. The quality criteria specified in the Bondx rules and regulations also apply to all BondxXL securities.