Deutsche Börse Group has launched 24/7 trading for DAX 40 stocks settled in euro. Trades outside regular exchange hours now run on 360X, the group’s affiliated venue.
The new model pairs Xetra with 360X. From Monday to Friday, Xetra still provides benchmark liquidity for institutions from 9am to 5.30pm CET.
It also offers an extended retail service on T7 from 8am to 10pm CET on the same days.
At night and at weekends, 360X takes over. Trades run on its regulated MTF segment, where clients request a quote for each trade.
The group calls this a step towards always-on market infrastructure in Europe.
On 360X, standard DAX 40 stocks trade only through this request-for-quote (RfQ) module.
Core Xetra processes do not change. Standard auction cycles also continue as before.
Closing prices on 360X after hours will not decide Xetra’s opening prices or affect its opening auctions.
Existing clients can activate 360X through a simplified process in the Deutsche Börse Member Section.
They can trade the same DAX ISINs and keep their current post-trade links. All trades settle bilaterally into their existing Clearstream accounts.
“Deutsche Börse Group aims to be the first European Financial Market Infrastructure to enable a 24/7 offering of traditional blue-chip equities,”
said Eric Leupold, Head of Cash Market at Deutsche Börse Group.
“By enabling the DAX 40 constituents on 360X, we are safely bridging deep, regulated liquidity pools with the flexibility of round-the-clock availability,
ensuring our clients can manage risk whenever global markets move; all while preserving the absolute integrity of the core Xetra benchmark cycles,”
said Carlo Kölzer, Head of Digital and FX at Deutsche Börse Group and Co-CEO of 360X.
Featured image: Edited by Fintech News Switzerland, based on image by Deutsche Börse Group, 360T Group via its website and mrsiraphol via Magnific.
