Amendment of the Xetra Liquidity Provider Programme Agreement, valid as of 1 July 2022

Release date: 19 May 2022

021/2022 Amendment of the Xetra Liquidity Provider Programme Agreement, valid as of 1 July 2022Xetra Circular 021/22

1.  Introduction

With this circular, we would like to inform you about an amendment to the Xetra Liquidity Provider Programme Agreement (“XLPP Agreement”) with effect from 1 July 2022.

2.  Requirements for participation

For participation, Trading Participants have to enter into the XLPP Agreement with Deutsche Börse AG and register the Trader IDs that shall be considered for liquidity provisioning.

3. Details

The amendments amendments concern in particular the performance measurement and refunds for DAX® shares, as well as the definition of eligible trading activity of Xetra Liquidity Providers (“XLP(s)”).

For DAX® shares, presence time of XLPs at top of book will be calculated depending on the third-party volume available at top of book. In addition, different performance-dependent levels for the refund of DAX® transaction fees of XLPs will be introduced. 

Within the framework of the existing differentiation of eligible trading activity of XLPs, proprietary trading will be more narrowly defined and considered as other trading activity of the XLP if there is a relation to a business partner. Existing XLPs are asked to review registered Trader IDs regarding their assignment to a particular trading activity and to modify the registration where required.

The amendment of the XLPP Agreement is deemed to be approved, unless the Xetra Liquidity Provider raises objections in writing with Deutsche Börse AG, Mergenthalerallee 61, 65760 Eschborn, within one week after announcement.

The currently valid version of the XLPP Agreement can be accessed on the Xetra website under the following link:

Trading > Trading fees and charges > Liquidity Provider Programme


  • 1 – Xetra Liquidity Provider Programme Agreement, valid as of 1 July 2022
  • 2 – Form “Xetra Liquidity Provider Programme/Designation of Trader IDs"

Further information


All Xetra® Members and Vendors

Target groups:

Traders, Technical Contacts, System Administrators, Nominated Persons, General



Authorised by:

Michael Krogmann, Andreas Heuer