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Supervisory bodies

The proper conduct of trading within the exchanges is monitored by Market Surveillance

The proper conduct of exchange trading as well as the correct pricing process is monitored by the Trading Surveillance Office (henceforth referred to as ‘TSO’). Several institutions cooperate closely in this sector. The Market Surveillance’s aim is to protect the investor and to gain confidence in the market mechanisms.

Trading Surveillance Office supervises trading activities

The Trading Surveillance Office (TSO) is an independent supervisory body of the exchange and monitors the markets. The TSO supervises the proper conduct of trading on the trading venues Xetra® and Eurex® as well as in specialist trading  at Frankfurter Wertpapierbörse. The TSO analyses irregularities and notifies the supervisory authorities and the management boards of the exchanges of its findings. The TSO also notifies BaFin  on cases which involve the competencies of this supervisory authority.

Regarding questions on the execution in trading on Xetra or in specialist trading at Frankfurter Wertpapierbörse, you will find extensive information on the trading surveillance on deutsche-boerse-cash-market.com. If you have further questions or if you are suspecting irregularities in quotations and exchange trading, please contact the Trading Surveillance Office by phone or e-mail.

Exchange Supervisory Authority 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 of Economics, Energy, Transport and Housing. 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.

 

Contact

Trading Surveillance Office: Investor Hotline

Service times: Monday till Friday, 8 a.m.-8 p.m. CET

+49-(0) 69-2 11-1 13 10

+49-(0) 69-2 11-1 42 98

huest@deutsche-boerse.com