022/2026: Amendment to the Price List for the Utilization of the Exchange EDP of FWB Frankfurt Stock Exchange and of the EDP XONTRO, effective as of 1 July 2026

1. Introduction

With this circular, we inform you about amendments to the Price List for the Utilization of the Exchange EDP of FWB Frankfurt Stock Exchange and of the EDP XONTRO, Part A (T7 Price List), effective as of 1 July 2026.

The changes to the T7 Price List relate to the following:

• A.    Xetra Retail
• B.    Xetra Midpoint Incentives
• C.    Xetra Introduction Program for IPOs with Dual Listing
• D.    Structured Products
• E.    Note on the acceptance of rebates and monetary benefits, as well as editorial changes

2.    Required action for participation

We kindly ask FWB Trading Participants to check whether these changes are relevant for them.

3.    Details of the initiative

A.    Xetra Retail

Introduction of a Minimum Transaction Fee for RLPs in Shares and ETFs/ETPs in the Xetra Retail Service

For Retail Liquidity Providers in the Xetra Retail Service (Main Trading), a monthly minimum transaction fee of €2,000 will be respectively introduced for Shares and ETFs/ETPs.

Introduction of the performance measurement for RLPs in the Extended Xetra Retail Service

With the introduction of the performance measurement for Retail Liquidity Providers in the Extended Xetra Retail Service (Early and Late Trading), the existing 50 percent RLP performance rebate no longer applies across the board, but is contingent upon fulfillment of the performance measurement requirements defined in the Agreement on the Participation in the Extended Xetra Retail Service as Retail Liquidity Provider.

B.    Xetra Midpoint Incentives

The incentives granted upon application in the form of (i) a credit for passive Midpoint Orders (Section 2.2.2.7), (ii) a waiver of transaction fees for Sweep Orders (Section 2.2.2.8) and (iii) a participation of a monthly amount of €50,000 for Trading Participants as part of the Midpoint Order Introduction Program (Section 2.2.3.7) are extended until 31 December 2026.

C.    Xetra Introduction Program for IPOs with Dual Listing

For executed orders in shares, that are newly listed as part of an initial public offering (IPO) on the Frankfurt Stock Exchange and another European stock exchange, no transaction fee will be charged for a period of up to four months from the start of trading, upon request by the Trading Participant. The required application form for “Participation in the Xetra Introduction Program for IPOs with Dual Listing” is attached to this circular.

D.    Structured Products

Introduction of a pricing model for internal flow of issuers of Structured Products

For Quote Providers, that are issuers of Structured Products, reduced transaction fees apply to the execution of quotes against a broker with the same Member ID, provided that the broker is also charged a reduced transaction fee.

Adjustment of the Tiered Pricing Scheme for Order Flow Providers in Structured Products

When determining the number of orders relevant for the application of a reduced transaction fee for Order Flow Providers in accordance with Tables 21a and 21b of T7 Price List, orders executed under a Partner Model Agreement are not considered.

E.    Note on the acceptance of rebates and monetary benefits, as well as editorial changes

The T7 Price List will include a note stating that it is the responsibility of FWB Trading Participants to ensure compliance with applicable law when accepting rebates and monetary benefits. In addition, editorial changes will be made to improve clarity.

The amendments will be deemed to be approved, unless the Trading Participant admitted at the Frankfurt Stock Exchange or Vendor files objections to the amendments with Deutsche Börse AG, Mergenthalerallee 61, 65760 Eschborn, Germany, in writing within six weeks after the amendments’ announcement.
 

Attachments:

• 1. Amended sections of the Price List for the Utilization of the Exchange EDP of FWB Frankfurt Stock
  Exchange and of the EDP XONTRO, Part A (Price List T7), valid as of 1 July 2026
• 2. Application form for “Participation in the Xetra Introduction Program for IPOs with Dual Listing

 Further information