Wirecard could fly out of the Dax faster;Wirecard is broke and yet a member of the club of 30 DAX members. The stock exchange is now trying to make the
Wirecard is broke and yet a member of the club of 30 DAX members. The stock exchange is now trying to make the scandal company disappear from the leading index earlier than was previously possible.In view of the Wirecard scandal, Deutsche Börse wants to change the rules for belonging to the leading index Dax. In the future, companies should withdraw from the Dax selection indices at short notice after filing for bankruptcy, the exchange operator suggested. If market participants agree to the proposal, Wirecard could fall out of the Dax in August instead of September.The stock exchange first asks investors, asset managers and providers of financial products what they think - private investors can also take part in the survey.
Then Wirecard would disappear from the leading index Dax.
Wirecard went bankrupt at the end of June. It was the first DAX company in the leading index's 30-year history to file for bankruptcy. Nevertheless, the group still belongs to the Dax and would not leave the company until September according to the current rules.This caused a lot of misunderstanding and put the Deutsche Börse under pressure. It plans to interview market participants by August 7 and announce the results before August 13. "If the market participants speak in favor of this, we intend to adapt the rules and regulations after the consultation has been completed with a period of one week," said the exchange operator. Then Wirecard would disappear from the leading index Dax.
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