Xetra Release 5.0 Launched Successfully On October 2 - Enhanced Flexibility With Order Types

A new version of the Xetra electronic trading platform, so-called Release 5.0, was introduced on Monday. With the new Xetra version, Deutsche Börse AG is above all making additional functionalities available to market participants: So-called iceberg orders and market-to-limit orders further enhance trading flexibility. The iceberg order allows a trader to enter high-volume orders but only part of the volume is displayed to the market as a whole; new trading strategies are supported on Xetra as a result. With the introduction of a market-to-limit order, Xetra is making an order type available that combines a high probability of execution with the price security of a limit order. The market-to-limit order is matched against the best price in the order book. If part of an order is not executed, the execution price is entered in the order book as the limit for the remaining part of the order.

Moreover, the new multiple-exchange support capability via an integrated front end enables access to several Xetra markets at the same time, such as the Wiener Börse (Vienna stock exchange) or the Irish Stock Exchange, for example. In electronic warrants trading, it is now possible to request a quote from an issuer in Xetra by means of an additional price query.

With Release 5.0, as of October Deutsche Börse is also expanding the possibilities for connection to the Xetra electronic trading system, as reported. The market participants now have four different access alternatives from which to choose, with different capacity/performance characteristics and fees; the low-cost connection via Internet is new. This allows market participants to target their selection to the type of connection that best meets their needs. Deutsche Börse wants to keep expanding the dissemination of Xetra. Xetra already has 433 market participants in 18 countries, making it the world's largest participant network together with Eurex.