Xetra MidPoint orders are placed in a closed order book and executed there in continuous trading at the midpoint of the current best bid and best ask price from the open Xetra order book. Price determination can be fully traced.
âLarger volumes can be traded with Xetra MidPoint without market impact:
transparent prices and the security that a regulated market such as the stock exchange offers,â said Rainer Riess, Managing Director of Deutsche BÃ¶rseâs Cash Market Development department. âAs Xetra MidPoint orders are always executed at the midpoint of the best bid and ask prices, implied trading costs, which constitute the bulk of the total trading costs, are reduced for the investor.â
Xetra MidPoint orders are specially marked with the code âXMâ. Legally, they are considered to be exchange-concluded transactions. Xetra MidPoint orders are possible in DAX stocks for amounts of â¬ 25,000 and more; the threshold for other stocks is â¬ 10,000.