Trading Surveillance Office (Handelsüberwachungsstelle, ‘TSO’)

The Trading Surveillance Office (Handelsüberwachungsstelle, henceforth referred to as ‘TSO’) is an independent exchange body and performs market surveillance. It monitors trading on the Frankfurt Stock Exchange, which includes the two marketplaces Xetra and specialist-supported floor trading, as well as on the derivatives exchange Eurex Deutschland. 

‘TSO’ investigates irregularities and informs the management of the exchanges and the Exchange Supervisory Authority of the results of its investigations. It also forwards cases to the Federal Financial Supervisory Authority (BaFin) if they fall within its area of responsibility.

We kindly ask you to direct any questions regarding specific orders or transactions to your order-issuing bank as a direct exchange participant, which will involve the respective exchange or the Trading Surveillance Office in the answer, if necessary.

You are also welcome to send information on possible breaches of the rules (in particular market manipulation and insider trading) to the Trading Surveillance Office by e-mail to  huest@deutsche-boerse.com (for the Frankfurt Stock Exchange) or surveillance@eurexchange.com (for Eurex Deutschland). Please note, however, that the Trading Surveillance Office is bound to confidentiality pursuant to the Stock Exchange Act and the Market Abuse Regulation and cannot inform the whistleblower about the result of its investigations.