High quality standards (minimum requirements) are applied to Designated Sponsors in terms of liquidity provision. These minimum requirements include a minimum quote size (smallest permissible number of stocks on buy and sell side), maximum bid/ask spread of the quotes (largest permissible spread between bid- and ask limit) and minimum percentage of quoting in auctions and continuous trading.

In order to be able to compare the performance of the various Designated Sponsors in shares, Deutsche Börse issues a rating - a kind of seal of quality. The rating takes into account a Designated Sponsor’s average quote duration, average spread and turnover. Furthermore, the Designated Sponsor can receive an additional rating level in form of an "e" if he participates in the Xetra EnLight functionality. It serves as indication that the Designated Sponsor is also available for the execution of block trades.

A rating is only issued if the minimum requirements have been fulfilled.

The rating covers shares from the Regulated Market, all domestic shares from the Open Market as well as shares from Scale and Basic Board.

The Designated Sponsor rating is calculated and published quarterly. In addition, Designated Sponsors receive a monthly rating report for every share mentioned above. The list of all Designated Sponsors and the monthly rating can be viewed via an xls. File.