What is Xetra?

Xetra is a trading system owned by the Deutsche Borse (German stock exchange).

How Does Xetra Work?

Started in 1997, about 250 participants (mostly brokerages, dealers, and market makers) in 19 countries use Xetra, which is an electronic trading system for stocks, bonds, warrants, ETFs and other securities. About 900,000 securities can be traded on the platform, which is more than any other system. Trading hours are from 8 a.m. to 8 p.m., and the system processes about 107 million transactions on peak days.

The platform, based in Frankfurt, Germany, also permits hidden orders, which preserves the anonymity of the participants.

Why Does Xetra Matter?

The Irish Stock Exchange, the Vienna Stock Exchange, the European Energy Exchange, the Bulgarian Stock Exchange, the Shanghai Stock Exchange and their market participants also use Xetra.