Xetra ("Exchange Electronic Trading") is a worldwide electronic securities trading system based in Frankfurt, Germany. It was created for the Frankfurt Stock Exchange and launched in November, 1997.[1] It is operated by Deutsche Börse.
More than 14 stock exchanges around the world have licensed the Frankfurt Stock Exchange Xetra electronic trading platform. Xetra’s electronic trading technology has an outstanding record of high scalability, speed, reliability, quality of core technology and the ease with which it can be adapted in other markets.
The conception and the implementation of the Xetra System was carried out by Accenture and Deutsche Börse Systems, the technology division of Deutsche Börse. It is based on the Eurex system designed and built by Deutsche Börse Systems.
The Xetra system has been successfully implemented on the Irish Stock Exchange (operating as ISE Xetra),[2] the Vienna Stock Exchange,[3] the Bulgarian Stock Exchange, the European Energy Exchange,[4] the Budapest Stock Exchange,[5] and a number of other exchanges. It will also be installed on the Shanghai Stock Exchange.[6]
In September, 2011, disagreement over "the introduction of the Xetra" system was given as the reason for the resignation of Budapest exchange head Mihaly Patai. "Patai, who is also chairman-chief executive of the Hungarian arm of Italy-based UniCredit S.p.A. (UNG.MI) and chairman of the Hungarian Banking Association, has been in charge of the bourse since December, 2008," according to the report.[7]