Deutsche Börse Group
CONTACT
Deutsche Börse AG
60485 Frankfurt/Main, Germany
Mon-Fri, 9:00 – 18:00
+49-69-21111670
info@deutsche-boerse.com

Management Board of the Frankfurt Stock Exchange

As the executive body of Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange), an entity under public law, the Management Board is responsible for all tasks not expressly assigned to other exchange bodies.

The legal foundations for the activities of the Management Board are anchored in the Stock Exchange Act. In accordance with its provisions, the Management Board is responsible for managing the Frankfurt Stock Exchange. Individual executive tasks, assigned to the Management Board, include:

  • Admission of persons and companies to exchange trading
  • Decisions on the start, suspension, discontinuance and cessation of exchange trading
  • Decisions on the price fixing of securities
  • Definition of the organization and business procedures of the Frankfurt Stock Exchange
  • Maintaining order on the trading floor premises

In line with the organization model of a German stock corporation (Aktiengesellschaft) the management board is responsible for managing the exchange, whereas the Exchange Council is the responsible body for controlling and regulation. The management board of the exchange is responsible for managing the public services of an exchange and ensures that exchange-relevant laws, ordinances, standard terms and conditions and other regulations are implemented and complied with accordingly. In this context the Management Board may assign responsibility for the carrying out of these tasks to other persons.

As the executive body of the Frankfurt Stock Exchange, an institution under public law with partial legal capacity, the Management Board is a public administration authority. It may issue administrative acts addressed to third parties and is thus a public authority under administrative law.

Management Board

  • Eric Leupold (Chairman)
  • Cord Gebhardt (Deputy Chairman)
  • Melanie Dannheimer
  • Frank Hoba
  • Michael Krogmann

Management Board of the Frankfurt Stock Exchange

As the executive body of Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange), an entity under public law, the Management Board is responsible for all tasks not expressly assigned to other exchange bodies.

The legal foundations for the activities of the Management Board are anchored in the Stock Exchange Act. In accordance with its provisions, the Management Board is responsible for managing the Frankfurt Stock Exchange. Individual executive tasks, assigned to the Management Board, include:

  • Admission of persons and companies to exchange trading
  • Decisions on the start, suspension, discontinuance and cessation of exchange trading
  • Decisions on the price fixing of securities
  • Definition of the organization and business procedures of the Frankfurt Stock Exchange
  • Maintaining order on the trading floor premises

In line with the organization model of a German stock corporation (Aktiengesellschaft) the management board is responsible for managing the exchange, whereas the Exchange Council is the responsible body for controlling and regulation. The management board of the exchange is responsible for managing the public services of an exchange and ensures that exchange-relevant laws, ordinances, standard terms and conditions and other regulations are implemented and complied with accordingly. In this context the Management Board may assign responsibility for the carrying out of these tasks to other persons.

As the executive body of the Frankfurt Stock Exchange, an institution under public law with partial legal capacity, the Management Board is a public administration authority. It may issue administrative acts addressed to third parties and is thus a public authority under administrative law.

Management Board

  • Eric Leupold (Chairman)
  • Cord Gebhardt (Deputy Chairman)
  • Melanie Dannheimer
  • Frank Hoba
  • Michael Krogmann

Management Board of the Frankfurt Stock Exchange

As the executive body of Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange), an entity under public law, the Management Board is responsible for all tasks not expressly assigned to other exchange bodies.

The legal foundations for the activities of the Management Board are anchored in the Stock Exchange Act. In accordance with its provisions, the Management Board is responsible for managing the Frankfurt Stock Exchange. Individual executive tasks, assigned to the Management Board, include:

  • Admission of persons and companies to exchange trading
  • Decisions on the start, suspension, discontinuance and cessation of exchange trading
  • Decisions on the price fixing of securities
  • Definition of the organization and business procedures of the Frankfurt Stock Exchange
  • Maintaining order on the trading floor premises

In line with the organization model of a German stock corporation (Aktiengesellschaft) the management board is responsible for managing the exchange, whereas the Exchange Council is the responsible body for controlling and regulation. The management board of the exchange is responsible for managing the public services of an exchange and ensures that exchange-relevant laws, ordinances, standard terms and conditions and other regulations are implemented and complied with accordingly. In this context the Management Board may assign responsibility for the carrying out of these tasks to other persons.

As the executive body of the Frankfurt Stock Exchange, an institution under public law with partial legal capacity, the Management Board is a public administration authority. It may issue administrative acts addressed to third parties and is thus a public authority under administrative law.

Management Board

  • Eric Leupold (Chairman)
  • Cord Gebhardt (Deputy Chairman)
  • Melanie Dannheimer
  • Frank Hoba
  • Michael Krogmann

Management Board of the Frankfurt Stock Exchange

As the executive body of Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange), an entity under public law, the Management Board is responsible for all tasks not expressly assigned to other exchange bodies.

The legal foundations for the activities of the Management Board are anchored in the Stock Exchange Act. In accordance with its provisions, the Management Board is responsible for managing the Frankfurt Stock Exchange. Individual executive tasks, assigned to the Management Board, include:

  • Admission of persons and companies to exchange trading
  • Decisions on the start, suspension, discontinuance and cessation of exchange trading
  • Decisions on the price fixing of securities
  • Definition of the organization and business procedures of the Frankfurt Stock Exchange
  • Maintaining order on the trading floor premises

In line with the organization model of a German stock corporation (Aktiengesellschaft) the management board is responsible for managing the exchange, whereas the Exchange Council is the responsible body for controlling and regulation. The management board of the exchange is responsible for managing the public services of an exchange and ensures that exchange-relevant laws, ordinances, standard terms and conditions and other regulations are implemented and complied with accordingly. In this context the Management Board may assign responsibility for the carrying out of these tasks to other persons.

As the executive body of the Frankfurt Stock Exchange, an institution under public law with partial legal capacity, the Management Board is a public administration authority. It may issue administrative acts addressed to third parties and is thus a public authority under administrative law.

Management Board

  • Eric Leupold (Chairman)
  • Cord Gebhardt (Deputy Chairman)
  • Melanie Dannheimer
  • Frank Hoba
  • Michael Krogmann

Management Board of the Frankfurt Stock Exchange

As the executive body of Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange), an entity under public law, the Management Board is responsible for all tasks not expressly assigned to other exchange bodies.

The legal foundations for the activities of the Management Board are anchored in the Stock Exchange Act. In accordance with its provisions, the Management Board is responsible for managing the Frankfurt Stock Exchange. Individual executive tasks, assigned to the Management Board, include:

  • Admission of persons and companies to exchange trading
  • Decisions on the start, suspension, discontinuance and cessation of exchange trading
  • Decisions on the price fixing of securities
  • Definition of the organization and business procedures of the Frankfurt Stock Exchange
  • Maintaining order on the trading floor premises

In line with the organization model of a German stock corporation (Aktiengesellschaft) the management board is responsible for managing the exchange, whereas the Exchange Council is the responsible body for controlling and regulation. The management board of the exchange is responsible for managing the public services of an exchange and ensures that exchange-relevant laws, ordinances, standard terms and conditions and other regulations are implemented and complied with accordingly. In this context the Management Board may assign responsibility for the carrying out of these tasks to other persons.

As the executive body of the Frankfurt Stock Exchange, an institution under public law with partial legal capacity, the Management Board is a public administration authority. It may issue administrative acts addressed to third parties and is thus a public authority under administrative law.

Management Board

  • Eric Leupold (Chairman)
  • Cord Gebhardt (Deputy Chairman)
  • Melanie Dannheimer
  • Frank Hoba
  • Michael Krogmann

The TSO monitors trading

The Trading Surveillance Office (Handelsüberwachungsstelle, henceforth referred to as ‘TSO’) is an independent exchange body and performs and is responsible for trading surveillance. The TSO monitors trading on the Frankfurt Stock Exchange (Xetra® as well as the Specialist-supported trading) including the derivatives exchange Eurex Deutschland. The TSO investigates irregularities and notifies the management boards of the stock exchanges as well as the Exchange Supervisory Authority (Börsenaufsichtsbehörde) of the results of its investigations. It also forwards cases to the Federal Financial Supervisory Authority (BaFin), in case these fall within its area of responsibility.


As far as general questions about trading on the Frankfurt Stock Exchange and Eurex Deutschland are concerned, the staff of the Investor Center will be available by email at anlegercenter@deutsche-boerse.com or you may call +49 69 21118310. 


We kindly request you to direct any questions regarding specific orders or transactions to your order-executing bank as the direct exchange participant which might involve the respective exchange or the TSO for their response.


You may also inform the TSO on potential violations of the rules (in particular market abuse and insider trading) by email to huest@deutsche-boerse.com (for the Frankfurt Stock Exchange) or to surveillance@eurexchange.com (for Eurex Deutschland). In this context, please be advised that the TSO is obliged to maintain confidentiality in accordance with the Exchange Act and the Market Abuse Regulation and is not permitted to inform the whistleblower on the results of their investigation.


Exchange Surpervisory Authority (Börsenaufsichtsbehörde) initiates sanctions

The Exchange Supervisory Authorities are responsible at the state level. The Exchange Supervisory Authority of the state Hesse is incorporated in the Hessian Ministry for Economic Affairs, Energy, Transport, Housing and Rural Areas. Inter alia, the area of competencies of this authority comprise pricing processes, the supervision of the proper conduct of trading as well as the investigation of violations of the Exchange Act. The authority assesses the irregularities reported by the TSO and may however also directly supervise the markets. Besides the Disciplinary Committee and the management boards of the exchanges, the Exchange Supervisory Authority may also impose sanctions on market participants. Over and above this, the authority approves the rules and regulations of the Frankfurt Stock Exchange as well as Eurex.


BaFin takes disciplinary action against market abuse

The Federal Financial Supervisory Authority (henceforth referred to as ‘BaFin’) is responsible for the investigation in cases of suspected insider trading and market manipulation at the federal level. Moreover, BaFin investigates potential violations of publication requirements.


Further information

Management Board of the Frankfurt Stock Exchange

As the executive body of Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange), an entity under public law, the Management Board is responsible for all tasks not expressly assigned to other exchange bodies.

The legal foundations for the activities of the Management Board are anchored in the Stock Exchange Act. In accordance with its provisions, the Management Board is responsible for managing the Frankfurt Stock Exchange. Individual executive tasks, assigned to the Management Board, include:

  • Admission of persons and companies to exchange trading
  • Decisions on the start, suspension, discontinuance and cessation of exchange trading
  • Decisions on the price fixing of securities
  • Definition of the organization and business procedures of the Frankfurt Stock Exchange
  • Maintaining order on the trading floor premises

In line with the organization model of a German stock corporation (Aktiengesellschaft) the management board is responsible for managing the exchange, whereas the Exchange Council is the responsible body for controlling and regulation. The management board of the exchange is responsible for managing the public services of an exchange and ensures that exchange-relevant laws, ordinances, standard terms and conditions and other regulations are implemented and complied with accordingly. In this context the Management Board may assign responsibility for the carrying out of these tasks to other persons.

As the executive body of the Frankfurt Stock Exchange, an institution under public law with partial legal capacity, the Management Board is a public administration authority. It may issue administrative acts addressed to third parties and is thus a public authority under administrative law.

Management Board

  • Eric Leupold (Chairman)
  • Cord Gebhardt (Deputy Chairman)
  • Melanie Dannheimer
  • Frank Hoba
  • Michael Krogmann

Management Board of the Frankfurt Stock Exchange

As the executive body of Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange), an entity under public law, the Management Board is responsible for all tasks not expressly assigned to other exchange bodies.

The legal foundations for the activities of the Management Board are anchored in the Stock Exchange Act. In accordance with its provisions, the Management Board is responsible for managing the Frankfurt Stock Exchange. Individual executive tasks, assigned to the Management Board, include:

  • Admission of persons and companies to exchange trading
  • Decisions on the start, suspension, discontinuance and cessation of exchange trading
  • Decisions on the price fixing of securities
  • Definition of the organization and business procedures of the Frankfurt Stock Exchange
  • Maintaining order on the trading floor premises

In line with the organization model of a German stock corporation (Aktiengesellschaft) the management board is responsible for managing the exchange, whereas the Exchange Council is the responsible body for controlling and regulation. The management board of the exchange is responsible for managing the public services of an exchange and ensures that exchange-relevant laws, ordinances, standard terms and conditions and other regulations are implemented and complied with accordingly. In this context the Management Board may assign responsibility for the carrying out of these tasks to other persons.

As the executive body of the Frankfurt Stock Exchange, an institution under public law with partial legal capacity, the Management Board is a public administration authority. It may issue administrative acts addressed to third parties and is thus a public authority under administrative law.

Management Board

  • Eric Leupold (Chairman)
  • Cord Gebhardt (Deputy Chairman)
  • Melanie Dannheimer
  • Frank Hoba
  • Michael Krogmann

Trading Calendar and Hours

Download the trading calendar for Deutsche Börse Xetra and Deutsche Börse Frankfurt and find out more about the current trading hours.
Market making
Trading Fees

An overview of trading fees, general terms and conditions and legal directives of the Frankfurt Stock Exchange, Eurex, Eurex Clearing and Clearstream for cash market trading. 
Trading infrastructure
Trading Participants

Financial institutions, securities trading houses and brokers can participate in Xetra® trading. A list of all trading participants with an admission to Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange) is available sorted in alphabetical order or by country.
Rules & Regulations

Exchange trading is operated by Frankfurter Wertpapierbörse (FWB®, the Frankfurt Stock Exchange) as an entity under public law. A comprehensive set of rules and regulations stipulates the framework for fair and orderly trading.

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