The direct market plus represents the market segment that as of 21 January 2019 offers companies with low capital requirements the option of raising capital through the capital market. The direct market plus contains stocks that are admitted to trading in the Third Market and of whose companies agree to fulfill more stringent reporting, quality and disclosure requirements. An essential feature is the function of Capital Market Coach, who supports the company. The admission criteria and ongoing obligations are specified in the rules direct market plus (pdf-file 500 KB).
The trading platform for the direct market plus is the Xetra® T7 trading system with the trading procedure "Continuous Trading" or "Auction" (single intraday auction) and is therefore divided into the direct market plus continuous and the direct market plus auction.
direct market plus continuous
For stocks in the direct market plus continuous the trading platform is the Xetra® T7 trading system with the trading procedure "Continuous Trading" in conjunction with several auctions (opening auction, intraday auction, closing auction).
At least one trading participant is also required who assumes the function of a market maker and agrees to enter firm quotes on a permanent basis. In the interest of raising liquidity, it is desirable to have further commitments of market makers.
direct market plus auction
For stocks in the direct market plus auction the trading platform is the Xetra® T7 trading system with the trading procedure "Auction" (single intraday auction), within which at least one trading participant is recommended, who assumes the obligation to enter binding buy and sell prices (quotes) during the trading phase and to concluded trades in such orders for market making purposes (Auction with Liquidity Providers).