Circulars
Jul 27, 2026

033/2026: Introduction of HELIOS SOLAR AG in Deutsche Börse Xetra trading on 28 July 2026

Deutsche Börse Circular 033/26

1.  Introduction

Subject to the admission of the shares of HELIOS SOLAR AG to the Regulated Market (General Standard), we hereby inform you about the procedure for the first price determination on trading venue Deutsche Börse Xetra (MIC: XETR) on 28 July 2026.

First trading day: 28 July 2026

2.  Required action

Trading Participants must ensure that the Product Assignment Group of the new instrument is assigned to their trader groups.

3.  Details of the first price determination

The following trading parameters will apply:

Trading model: Continuous Trading

Instrument nameShort CodeISINProduct Assignment Group

HELIOS SOLAR AG

HE8

DE000A42D2N5

GER0

Pre-trading on the first trading day will start at 07:00 CE(S)T. The call phase for the first auction (Opening Auction - Opening Auction Call; display in the T7 trading system: “OpnA”) will start at 09:00 CE(S)T and will last at least 15 minutes. Consequently, the first price determination will take place not earlier than 09:15 CE(S)T.

The following will apply to the Opening Auction:

During the Opening Auction Call Phase, if the order book is crossed, the indicative auction price, auction volume, and auction surplus (volume and side) will be displayed. In addition, the first ten price levels will be available via GUI, EMDI, and MDI, while the full market depth will be available via EOBI. Iceberg Orders will be displayed with their total tradable quantity.

AVD Orders do not participate in either the Opening Auction Call Phase or the determination of the auction price. Following the price determination, they may be executed during the AVD uncrossing at the determined auction price against the auction surplus available for this purpose and against other AVD Orders. If no auction price is determined, no AVD uncrossing will take place.


Continuous Trading will begin once the price determination process of the Opening Auction has been completed.

Please note the following special procedures:

  • Prior to the first price determination, the allocation price will be displayed as the reference price in the T7 trading system (field: "LstPrc").
  • Orders entered with trading restriction “OAO” (Opening Auction only) will only be considered in the first auction of the exchange trading day, i.e. in the first price determination for the shares. Orders entered with trading restriction “AOO” (Auction only) will be considered in the opening auction, the intraday auction and the closing auction.
  • Orders entered with the trading restriction “AVD Opening Auction Only” will participate exclusively in the AVD uncrossing following the Opening Auction. They do not participate in the determination of the auction price and may be executed at the applicable execution price, which may have been determined during a volatility interruption.
  • The usual safeguards in the T7 trading system will also be applied in the Opening Auction. Therefore, a volatility interruption may occur following the Auction Call Phase.
  • The intraday auction will start at 13:00 CE(S)T and will last at least two minutes.
  • If an exceptional number of orders is executed in any one auction, it may lead to delays in processing confirmations.
  • In all other respects, the market model Continuous Trading with Auctions will apply.

Schedule for the first price determination for shares on trading venue Deutsche Börse Xetra (MIC: XETR):

Time (CE(S)T)*DescriptionComments

As of 07:00

Start of pre-trading phase
(Phase "Book”)
  • Order entry, modification and deletion are possible. 
  • The reference price corresponds to the allocation price.

As of 09:00

Start of auction call phase with a minimum duration of 15 minutes (Phase "OpnA”)

  • Order entry, modification and deletion are possible.
  • If the order book is crossed, the indicative auction price, auction volume, and auction surplus will be displayed.
  • In addition, the first ten price levels will be available via GUI, EMDI, and MDI, while the full market depth will be available via EOBI.

No earlier than 09:15

First price determination

  • The first price and the volume will be displayed in the T7 trading system and disseminated to vendors etc. via CEF®.
  • An AVD uncrossing may subsequently take place at the determined auction price. 
  • In the event of a volatility interruption, any AVD uncrossing will take place only after the corresponding price determination.

Subsequently

Continuous Trading (Phase "Cont“)

  • Continuous Trading will begin once the price determination process has been completed.

* CE(S)T = Central European (Summer) Time. The actual changes of trading phases in the T7 trading system are decisive.


Further information 

Recipients: 

All Trading Participants of Frankfurt Stock Exchange (Frankfurter Wertpapierbörse, FWB®) and Vendors

Target groups: 

Traders, Security Administrators, System Administrators

Contact: 

Cash Markets Operations Helpline, tel. +49-69-211-1 14 00

Web: 

www.cashmarket.deutsche-boerse.com

Authorized by: 

On behalf of the Management Board: Karmen Margaryan, David Unden


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