Quality of Trading


A consistent reference market principle is in force in Xontro trading at Börse Berlin to ensure the implementation of the “best price principle” according to MiFID.


It ensures that execution in all DAX, MDAX, TecDAX, SDAX, EuroStoxx50, Stoxx50, AEX, ATX, CAC40, FTSE100, IBEX35, MIB30, SMI as well as DOW30 and NASDAQ100 securities is better or at least as good as the current volume weighted Xetra Spread. When Xetra is not available as a reference market – as is the case after 17:30 CET – the most liquid trading venue is used for reference. For foreign securities only a small deviation from the spread on the home market is permitted. When the respective reference markets are open, a deviation of max +/- 0.4% is permitted for Dow Jones stocks, and +/- 0.5 % for NASDAQ 100 stocks and securities from European indices.

The overall costs of a transaction result from the fees charged by the exchange, the lead broker and your bank. On the exchange-side transactions costs are defined in the Brokerage Rates.

Fees per executed order will be charged subject to the security class (plus VAT). Please find more information about fees on the Xontro Pricing page. The intermediation fee for brokers, the so called brokerage, is 0.08 % of the executed order volume. For DAX securities brokers charge half of the usual brokerage, i.e. 0.04 % of the executed order volume.

Your order is executed within seconds in Berlin. The lead brokers’ liquidity obligations guarantee a high likelihood that your order gets carried out. Through own-name transactions lead brokers can help you purchase stocks that would otherwise not be tradeable due to low liquidity.

Order types

Xontro enables the following order types:

  • Unlimited order (Market Order)
  • Limit Order
  • Stop Order (Stop Buy/Stop Loss)

Furthermore the validity of the order can be defined (“good till date”). The time span available reaches from “good for day” to a maximum of 360 calendar days.


Quick links

Notices: All notices
Börse Berlin: Market Participants
Börse Berlin: Two Market Places
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