1. Introduction
Subject to the inclusion, trading in tender rights on NORMA Group SE will take place as of 20 August 2026 at Frankfurter Wertpapierbörse (Frankfurt Stock Exchange, FWB®)
Start of trading: 20 August 2026
End of trading: 10 September 2026
2. Required action
Trading Participants have to make sure that the Product Assignment Group of the new instrument is assigned to their trader groups.
3. Details of the first price determination
Instrument name | ISIN | Product Assignment Group | CCP-eligible | First Trading Day | Last Trading Day |
NORMA Group SE Andienungsrecht | DE000A41YH53 | SDX1 | yes | 20.08.2026 | 10.09.2026 |
Trading parameters for Deutsche Börse Xetra (MIC: XETR):
| Minimum order size | Trading model | Characteristics |
1 | Continuous Trading | At the end of the penultimate trading day of the tender right, all open orders will be deleted. On the last trading day, trading will end with a closing auction. It will start at 12:45 CE(S)T at the earliest with a duration of at least five minutes. On this day, no intraday auction will take place. |
Trading parameters for Deutsche Börse Frankfurt (MIC: XFRA):
| Minimum order size | Trading model | Besonderheiten |
1 | Continuous Auction with Special Auction | From the first until the penultimate trading day, a Special Auction will take place not before 13:00 CE(S)T. At the end of the penultimate trading day of the tender right, all open orders will be deleted. On the last trading day, trading will end with a Special Auction. Taking into consideration the market and orderbook situation, the Management Board can determine that several Special Auctions may be carried out on the last trading day. However, these do not start before 13:00 CE(S)T. If the Management Board decides that one or more additional Special Auctions are to be held, this will be announced via the Newsboard after the regular Special Auction has been held. In general, these Special Auctions take place independent from the last price determination on Deutsche Börse Xetra (MIC: XETR). |
Schedule for trading on Deutsche Börse Xetra (MIC: XETR) on the last trading day
| Time (CE(S)T) | Description |
07:00 | Start Pre-Trading Phase (Phase “Book“) |
08:00 | Start Xetra Retail Early (Phase “RPreCall“) |
08:55 | Earliest possible start of the call phase for the opening auction with a minimum duration of seven minutes (Phase “OpnA“) |
09:02 | Earliest possible start of the Xetra price determination, followed by Continuous Xetra Trading (Phase “Cont“) |
12:45 | Earliest possible start of the call phase for the closing auction with a minimum duration of five minutes (Phase “CIsA“) |
12:50 | Earliest possible start of the Xetra price determination, followed by Post-Trading (Phase “Book“) |
Further information
Recipients: | All Trading Participants of Frankfurt Stock Exchange (Frankfurter Wertpapierbörse, FWB®) and Vendors |
Target groups: | Traders, Technical Contacts, Security Administrators, System Administrators |
Contact: | Cash Markets Operations Helpline, tel. +49-69-211-1 14 00 |
Web: | |
Authorized by: | On behalf of the Management Board: Karmen Margaryan, Christopher Turba |
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
We strongly recommend not to take any decisions based on the indications in the market status window but to always check the production news board for comprehensive information on an incident.
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