Deutsche Börse Xetra

The Xetra exchange is based on a fully electronic trading system that compares all buy and sell orders from licensed traders in a central computer system. If the quantity and price match, the orders are automatically matched.

The Xetra electronic trading system was introduced by Deutsche Börse in 1997. Its efficiency is demonstrated by the fact that well over 90 percent of all stock trading on securities exchanges in Germany now takes place via Xetra. Of this, around 25 percent of orders and approximately 10 percent of volume come from private investors.

Trading in Deutsche Börse Frankfurt now also uses the Xetra system. However, orders continue to be handled by traders, known as specialists. In the specialist trading market model, Xetra calculates the price and the specialists monitor the execution of orders. Specialists act as liquidity providers.

Xetra offers:

• Fair prices: The high trading volume ensures that orders are executed quickly and completely at market prices.
• Low costs.
• High speed: The fully electronic matching of orders guarantees the fastest execution – regardless of whether a single share or an entire block of shares is being traded.
• A wide selection: Almost all shares listed on Deutsche Börse can be traded on Xetra. With room for requests. Order additions in Xetra trading specify how an order is to be executed.

Investors can choose Xetra as a trading venue just like any other stock exchange. To do so, simply specify Xetra as the place of execution when placing your order.

November 2025 © Deutsche Börse AG