The entire securities trading business within the EU will be facing dramatic changes, caused by the “Markets in Financial Industries Directive (MiFID)” resp. “… Regulation (MiFIR)”, to be coming into force by January 3rd, 2018.

These changes will, in many ways, affect the operating modes of cash market exchange trading venues, such as, e.g., the XONTRO exchanges.

In this column you´ll get necessary adaptions regarding XONTRO-trading.


  • 12/2016 - High level communication to market participants
  • 01/2017 - Meeting of BrainTrade and the German cash markets trading
                    venues (Aim: Commitment to a consistent industry standard, at least
                    in Germany)
  • 02/2017 - Initial interface specification for XONTRO
  • 02/2017 - Detailed interface specification for XONTRO
  • 09/2017 - XONTRO MiFID II simulation environment launch
  • 09/2017 - XONTRO participation simulation
  • 01/2018 - Production launch for MiFID II / MiFIR in XONTRO


MiFID II - Newsletter No. 01

MiFID II - Newsletter No. 02