And yet it moves: a Good three weeks after the bankruptcy filing of Wirecard AG, the German stock exchange is considering an earlier exclusion of the share from the German leading index, the Dax, as planned. As the Frankfurt stock exchange operator announced on Friday, will be up to 7. August opinions are sought, which will keep market participants away. Anyone can speak at the E-Mail address consultation@stoxx.com his opinion, also "interested third parties". Up to the 13. August, the stock exchange will evaluate the responses and make a decision. The rules could then be adjusted within a week, and on this Basis two trading days later, Wirecard from the Dax to be taken in the third or fourth week of August.
Daniel Mohr
editor in the economy of the Frankfurt General Sunday newspaper.
F. A. Z.The exclusion of around a month, this would mean earlier than previously predicted. According to the regulations, a withdrawal of companies with insolvency application to the next Index adjustment date. That is, in the case of Wirecard the 22. September. First of all, the stock market had emphasized the reliability of the mill, and a faster withdrawal of Wirecard from the Dax excluded. However, the pressure on the stock market has grown. Any other relevant index provider have removed Wirecard from the indices, also to the German stock exchange, belonging to the Stoxx indices.
From 200 to 2 Euro
like the stock market has recognized that "this process of the market participant meets the expectations of a large part". Nevertheless, the rules for consultations provides, before the index rules can be changed, therefore, now have the opportunity, via e-Mail expressing his opinion. Unlike usual, the deadline was shortened to three weeks.
Formally, the market participants in their E-Mails reference to a Letter, which is available on the website dax-indices.com to. Here, the proposals of the stock exchange are discussed in more detail. So in future the application for insolvency be known to cause that a company will, within two trading days from the Dax indices. Should be the company back and continued berappeln, it may qualify in accordance with the insolvency procedure for the Dax selection indices.
Date Of Update: 19 July 2020, 09:20
