A specialist is a special type of market maker and is determined for specific securities by holding an annual tender. The trading participant which submits the best bid (in terms of minimum size and maximum spread) is appointed specialist. Only one specialist may be selected for each instrument. The tender procedure is conducted and announced by the exchange operating company.

Documentations

Obligations

All specialist & market maker obligations can be found in the following files:

prime market, standard market,
direct market plus, direct market

pdf-file (170 KB)
xlsx-file (45 KB)

global market

pdf-file (115 KB)
xlsx-file (60 KB)

ETFs

pdf-file (120 KB)
xlsx-file (25 KB)

Bonds

pdf-file (215 KB)
xlsx-file (30 KB)

Auction with liquidity providers

pdf-file (130 KB)

Performance

Performance 09/2021 (pdf-file 700 KB)