Wirecard AG to be deleted from DAX index

Maria Nikolova

The change, effective August 24, 2020, is implemented according to the new Insolvency Rule.

Qontigo’s global index provider STOXX Ltd. has announced unscheduled changes to the DAX Selection Indices.

According to the new Insolvency Rule (section 5.1.1) Wirecard AG will be deleted from the DAX index, effective August 24, 2020. It is replaced by Delivery Hero SE.

There are also changes in MDAX, SDAX and TecDAX: Wirecard AG will also be deleted from the TecDAX index, it will be replaced by LPKF Laser & Electronics AG. New in MDAX is AIXTRON SE, new in SDAX is HORNBACH-Baumarkt-AG. These changes will also become effective on August 24, 2020.

Earlier this month, Germany’s Federal Criminal Police Office launched a public search for the Chief Operating Officer (COO) of Wirecard who was responsible for the entire operational business including sales and, since at least 2015, has been largely responsible for the Asia business and the TPA business.

He, along with “Dr. B.”, are suspected of having inflated the balance sheet total and sales volume of Wirecard AG by recording simulated income from payment transactions in connection with transactions with so-called third-party acquirers (TPA), in order to make the company financially stronger.

Read this next

Institutional FX

Cboe Australia launches BIDS offering after successful migration of Chi-X

“Executing the migration of Chi-X’s technology platform was a tremendous industry-wide effort and we thank our customers, vendors, regulators and other market participants for their strong engagement and support over the past year.”

Institutional FX

Sucden Financial launches access to 25 of China’s futures and options contracts

“We are delighted to offer clients access to three key futures markets in China, the world’s largest commodity consumer.”

Industry News

Kraken sponsors Williams Racing to expand institutional reach and fan engagement

“Kraken’s partnership with Williams Racing shows what is possible when you combine a great mission with excellence, innovation and breakthrough performance. These are both iconic brands that have stood the test of time. We’re excited to engage with both Kraken’s and Williams Racing’s global communities, showcasing the power and life-changing impact of crypto and Web3.”

Retail FX

FXChoice taps Acuity’s news, sentiment tools, calendars, trade ideas on MT4/5

“Our tools are designed with the end-user in mind and are engineered to present insightful and actionable market data in an accessible way to help traders manage risk by identifying potential market movements before they occur and ultimately make better decisions on how, when, and where to invest.”

Digital Assets

BlockFi to refund $103K to Californian users

Bankrupt crypto lender BlockFi will refund more than $100,000 to its California-based users who continued to repay loans even after the company halted client withdrawals following a liquidity crisis.

Institutional FX

SimCorp and FlexTrade team up to strengthen Open Platform

Broker-neutral technology firm FlexTrade Systems announced that its solution FlexTRADER EMS has been certified for integration with SimCorp, a provider of integrated, front-to-back, multi-asset investment management solutions.

Digital Assets

MicroStrategy prepays Silvergate loan, trims loss on BTC bet

MicroStrategy, spearheaded by one of bitcoin’s most vocal proponents, has prepaid the $205 million bitcoin-backed loan it took out from insolvent crypto-focused Silvergate Bank in March 2022.

Executive Moves

UK spread better InterTrader hires Joe Rundle as CEO

Multi-regulated online trading provider InterTrader has publicly revealed its newest appointment, having onboarded industry veteran Joe Rundle as its Chief Executive Officer (CEO).

Digital Assets

Federal judge puts brakes on Voyager sale to Binance

A federal judge temporarily halted the proposed deal to sell bankrupt crypto lender Voyager Digital’s assets to Binance US after a request by the United States government for an emergency stay.

<