All terms
XETRA
Deutsche Börse's electronic trading system in Frankfurt, the main trading venue for German stocks.
Most stock trading in Germany runs through XETRA. Buy and sell orders are matched fully electronically, without floor brokers.
Main trading runs Monday to Friday from 9:00 to 17:30 German time. Since December 2025, retail investors can also trade early and late, from 8:00 to 22:00. Because so many orders meet there, spreads are often tight and prices fair.
Example: the DAX is calculated from XETRA prices. When the news reports the DAX closing level, it usually means the level after the closing auction, which starts at 17:30.