Boerse_Berlin_Equiduct

Reports independently Serves as intermediary between and representative to ESMA Direct Reports independently Market Surveillance • Independent exchange body • Located directly at the exchange • Monitors trading in real time • Ensures that prices are in line with the market Exchange Supervisory Authority • Federal state authority (for Börse Berlin the State of Berlin) • Authorisation of an exchange • Supervision of correct trading procedures and exchange transactions • Securing of adherence to exchange related rules and regulations Federal Financial Supervisory Authority (BaFin) • Supervises all areas of the financial services industries • Including stand-alone MTFs • Excluding stock exchanges • Supervision of securities • Combating insider trading and market manipulation ESMA European Securities and Markets Authority ESMA’s work on securities legislation contributes to the development of a single rule book in Europe. Trade Monitoring/Regulatory Supervision Trading in all three market segments is continuously monitored. The following German official institutions ensure fair and orderly trading. 24

Boerse_Berlin_Equiduct

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