In case of error: cancellation
By means of the Mistrade Rule, at Frankfurt Stock Exchange Scoach protects investors and issuers against erroneous order execution. This rule enables the cancellation of a trade if it has been made at a price that is not in line with the market. Such non-market-driven prices can arise from technical errors or wrong entries.
Both issuers and investors, or rather the institution operating on their behalf, can file Mistrade applications – either by phone, fax or e-mail. If the application is accepted the trade is cancelled. Trading participants must file their claims within two hours of the respective price determination. Warrants, certificates and share bonds are securities pertaining to the Mistrade Rule.
First of all, it is determined if a Mistrade application is perusable. On the basis of a comparison between the determined price and the price of the underlying instrument at the time of the transaction, a procedure involving trading participants examines whether the order was executed at a non-market-driven price.
All testable Mistrade applications are listed on our German website. Investors and issuers wishing to file a Mistrade application should get in touch with Market Supervision at Deutsche Börse:
- Phone: +49-(0) 69 - 2 11 -1 38 70
- Fax: +49-(0) 69 - 2 11 -1 44 19
- E-Mail: firstname.lastname@example.org
All current mistrades are published on www.scoach.de.