Participation in stock exchange trading may only be granted to those who are commercially traded in exchange-traded items

• carries out the acquisition and sale for its own account, or
• operates the acquisition and sale in its own name for the account of others, or
• takes over the mediation of contracts for the acquisition and sale

and whose commercial enterprise requires a business operation set up in a commercial manner in terms of type and scope.

The admission of a company to participate in stock exchange trading is granted if:

• business owners or persons who are entrusted with the management of the business of the company by law, articles of association or articles of association and who are authorised to represent it,
  • are reliable and
  • at least one of those persons has the professional qualifications necessary for the stock exchange securities or commodities transaction;
• the proper settlement of transactions concluded on the stock exchange is ensured;
• the company proves equity of at least EUR 50,000 (except in the case of credit institutions, financial services institutions or companies operating pursuant to § 53 (1) sentence 1 or § 53b (1) sentence 1 of the German Banking Act (Kreditwesengesetz) which are authorised to conduct the financial commission business within the meaning of § 1 (1) sentence 2 no. 4 or to provide a financial service within the meaning of § 1 (1a) sentence 2 no. 1 to 4 of the Banking Act);
• in the case of the undertaking which is obliged to provide evidence of equity, no facts justify the assumption that, taking into account the proven equity, it does not have the economic capacity necessary for proper participation in stock exchange trading.

Any person who wants to trade on an exchange and must be entitled to trade on the stock exchange on behalf of a trading participant requires an admission to the stock exchange trader.