Xetra (trading system)
Xetra is a worldwide electronic
Electronics is the branch of science, engineering and technology that deals with electrical circuits involving active electrical components such as vacuum tubes, transistors, diodes and integrated circuits, and associated passive interconnection technologies...

Security (finance)
A security is generally a fungible, negotiable financial instrument representing financial value. Securities are broadly categorized into:* debt securities ,* equity securities, e.g., common stocks; and,...

 trading system based in Frankfurt
Frankfurt am Main , commonly known simply as Frankfurt, is the largest city in the German state of Hesse and the fifth-largest city in Germany, with a 2010 population of 688,249. The urban area had an estimated population of 2,300,000 in 2010...

, Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...

. It was created for the Frankfurt Stock Exchange
Frankfurt Stock Exchange
The Frankfurt Stock Exchange is the world's 12th largest stock exchange by market capitalization. Located in Frankfurt am Main, Germany, the Frankfurt Stock Exchange is owned and operated by Deutsche Börse, which also owns the European futures exchange Eurex and the clearing company...

 and launched in November, 1997. It is operated by Deutsche Börse
Deutsche Börse
Deutsche Börse AG is a marketplace organizer for the trading of shares and other securities. It also is a transaction services provider. It gives companies and investors access to global capital markets. It is a joint stock company and was founded in 1993. The headquarters are in Frankfurt,...


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
Accenture plc is a global management consulting, technology services and outsourcing company headquartered in Dublin, Republic of Ireland. It is the largest consulting firm in the world and is a Fortune Global 500 company. As of September 2011, the company had more than 236,000 employees across...

 and Deutsche Börse Systems, the technology division of Deutsche Börse. It is based on the Eurex
Eurex is one of the world's leading derivatives exchanges, providing European benchmark derivatives featuring open and low-cost electronic access globally...

 system designed and built by Deutsche Börse Systems.

The Xetra system has been successfully implemented on the Irish Stock Exchange
Irish Stock Exchange
-History:The Irish Stock Exchange is Ireland's only stock exchange and has been in existence since 1793. It is an Irish private company limited by guarantee. It was first recognised by legislation in 1799 when the Irish Parliament passed the Stock Exchange Act...

 (operating as ISE Xetra), the Vienna Stock Exchange
Wiener Börse
The Wiener Börse AG is the only stock exchange in Vienna, Austria, and one of the most established exchanges in Eastern- and Southeastern Europe.-History:...

, the Bulgarian Stock Exchange, the European Energy Exchange
European Energy eXchange
European Energy Exchange AG, Germany's energy exchange, is the leading energy exchange in Central Europe.-Overview:The European Energy Exchange is located in Leipzig. Preceding companies were LPX Leipzig Power Exchange, located in Leipzig and European Energy Exchange, located in Frankfurt...

, the Budapest Stock Exchange
Budapest Stock Exchange
The Budapest Stock Exchange was re-opened in 1990 with headquarters in Budapest, Hungary.BSE is the key institution of the Hungarian Financial market and the official trading venue for publicly offered securities....

, and a number of other exchanges. It will also be installed on the Shanghai Stock Exchange
Shanghai Stock Exchange
The Shanghai Stock Exchange , abbreviated as 上证所/上證所 or 上交所, is a stock exchange that is based in the city of Shanghai, China. It is one of the two stock exchanges operating independently in the People's Republic of China, the other is the Shenzhen Stock Exchange...


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
UniCredit SpA is an Italy-based, pan-European banking organization, with aprox 40 million customers and operations in 22 countries.- Geography :...

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.

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