Scale issuers must engage a supporting capital market partner for the entire period of inclusion. By commissioning a supporting capital market partner, issuers ensure that for the whole term of inclusion they receive the support and advice of a proven capital market expert on the market regulatory and statutory follow-up obligations associated with inclusion.
Obliged are issuers
Briefly, this needs to be done:
This obligation is regulated in the General Terms and Conditions of Deutsche Börse AG for the Regulated Unofficial Market (Freiverkehr) on Frankfurter Wertpapierbörse (GTC DBAG).
In detail, the requirements result from
Pursuant to Annex 1 GTC DBAG, issuers in Scale must maintain a contractual relationship with a supporting capital market partner over the entire term of inclusion. In the event of termination of this contractual relationship, issuers must have a new partner under contract within a month and make a submission to Deutsche Börse AG.
Supporting capital market partners can be, in addition to credit and financial services institutes, also legal counselling or accounting/auditing companies. They are acquainted with the necessary processes and requirements with regard to the follow-up obligations of issuers in Scale.
Pursuant to Annex 1 GTC DBAG, the supporting capital market partner is contractually obliged to brief issuers at least once a year and otherwise instruct and advise them continuously on the market regulatory and statutory inclusion follow-up obligations and also to support them when preparing and maintaining the required follow-up obligation documents and data.
For reporting requirements on terminating a contract and concluding a new contract with a supporting capital market partner, see Sect. 21 Paragraph 1 Let. g) cc) and dd) GTC DBAG. You will find information on this in the IPO Line – Being Public at Reporting and submission of changes.
How does Deutsche Börse AG sanction violations of this follow-up obligation?
Deutsche Börse AG can grant an extension to issuers. Should the extended deadline also not be met, inclusion in Scale can be terminated without notice. The reason for termination is independent of culpability on the part of the issuer.
Market Status XETR ⓘ
XETR
The market status window is an indication regarding the current technical availability of the trading system. It indicates whether news board messages regarding current technical issues of the trading system have been published or will be published shortly.
Please find further information about incident handling in the Emergency Playbook published on the webpage under Data & Tech > Information Channels > Emergency procedures. Detailed information about incident communication, market re-opening procedures and best practices for order and trade reconciliation can be found in the chapters 4.2, 4.3 and 4.5, respectively. Concrete information for the respective incident will be published during the incident via newsboard message
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