Regulation on the Reporting Requirements Relating to Trades in Securities and Derivatives of 21 December 1995 (Federal Law Gazette I, p. 2094; 1996 I, p. 220) last amended by Article 1 of the Regulation of 18 December 2007 (Federal Law Gazette I, p. 3014)

Part 1
Scope of Application

§ 1
Scope of Application

This Regulation shall apply to the reports to be filed with the Federal Financial Supervisory Authority (Supervisory Authority) pursuant to Section 9 of the Securities Trading Act (Wertpapierhandelsgesetz).

Part 2
Form and Content of the Report

§ 2
Reporting Form

(1) Any enterprise subject to the reporting requirement under Section 9 subsection (1) of the Securities Trading Act (party subject to the reporting requirement) shall be required to make its reports according to the annexed reporting form and field description ^[1]). Fields not needed due to the type and structure of the reportable transaction shall remain empty.

(2) Each reportable transaction of a party subject to the reporting requirement shall be transmitted in a single report. The parties subject to the reporting requirement shall use serial numbers for all the reports filed on a particular day.

(3) Any date or time must be given in the same form. A date requires an eight-digit sequence stating century, year, month and day, time requires a six-digit sequence stating hours, minutes and seconds.

§ 3
Designation of the Security or Derivative and Security Identification Number

(1) The financial instrument must be sufficiently identified, especially by stating its type and designation (Field Nos. 30 and 35 in conjunction with Field No. 10 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006).

(2) The international identification number of the traded financial instrument is to be stated (Field No. 31 in conjunction with Field No. 6 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006). If such international identification number does not exist or is not available to the party subject to the reporting requirement, the German identification number of the security (Wertpapierkennnummer) must be stated (Field No. 33); if no German identification number exists, any other national identification number must be stated (Field No. 33). In case of a national identification number its country of origin must be stated (Field No. 32 in conjunction with Field No. 7 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006). If derivatives are traded, either the Field “International Securities Identification Number” (Field No. 31) with the contract-specific ISIN or the Fields “Country/derivatives code” (Field No. 32) and “National identification number” (Field No. 33) with the product code of the derivative shall be completed. The following additional information shall be stated in respect of all types of derivatives:

1. the type of the derivative (Field No. 39 in conjunction with Field No. 12 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006);
2. the type of identification of the underlying instrument (Field No. 40 in conjunction with Field No. 9 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006);
3. the identification of the underlying instrument (Field No. 41 in conjunction with Field No. 8 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006);
4. the price multiplier (Field No. 42 in conjunction with Field No. 15 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006);
5. the currency of the strike price of the option (Field No. 44 in conjunction with Field No. 17 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006);
6. the strike price of the option (Field No. 45 in conjunction with Field No. 14 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006);
7. the quotation type of the strike price (Field No. 46);
8. the maturity date of the derivative (Field No. 47 in conjunction with Field No. 11 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006).

§ 4
Date and Time

(1) The date of the transaction or of the relevant determination of the stock exchange price must be stated (Field No. 13 in conjunction with Field No. 2 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006).

(2) The time of the transaction or of the relevant determination of the stock exchange price must be stated in the sequence of hours, minutes and seconds (Field No. 14 in conjunction with Field No. 3 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006).

(3) The date and the time of the transaction executed abroad must be converted into domestic time (Central European Time or Central European Summer Time).

§ 5
Price, Number, Nominal Value of the Securities or Derivatives

(1) The quantity of the executed order or transaction must be stated (Field No. 25 in conjunction with Field No. 18 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006). The respective units, e.g. number or contracts, to which the quantity refers must be indicated (Field No. 24 in conjunction with Field No. 19 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006).

(2) The stock exchange price or another price of the reported transaction (Field No. 27 in conjunction with Field No. 16 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006) must be stated, indicating the unit in which it has been quoted (Field No. 36) and the trading currency (Field No. 26 in conjunction with Field No. 17 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006).

§ 6
Identification of the Reporting Parties

(1) The parties subject to the reporting requirement must notify the Supervisory Authority of their names and addresses as well as, if possible, the depository bank code (Kassenvereinsnummer), the German bank code (Bankleitzahl), the member ID code of an electronic stock exchange trading system (EBHS), the Bank Identifier Code specified in ISO 9362 (BIC), the International Business Entity Identifier (IBEI) and the internal identification number provided by Deutsche Börse Group. Any change in these data must be reported to the Supervisory Authority without undue delay.

(2) The parties subject to the reporting requirement will receive an eight-digit identification number from the Supervisory Authority after filing the report in accordance with subsection (1) sentence 1.

(3) For the purpose of identification the parties subject to the reporting requirement must state in the report their identification number pursuant to subsection (2) or any of the other numbers specified in the field description according to the sequence prescribed therein (Field No. 2 in conjunction with Field No. 1 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006). The type of identification must be stated (Field No. 1).

(4) For the purpose of identifying the parties subject to the reporting requirement which participate in the transaction as customers, counterparties, brokers or intermediaries, subsection (3) shall apply mutatis mutandis (Field Nos. 3 to 12 in conjunction with Field No. 20 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006). For the purpose of identifying the parties that are not subject to the reporting requirement, sentence 1 shall apply provided that the data are supplied on a voluntary basis. By way of derogation from section 2 (1) sentence 1, legal and natural persons that are subject to the reporting requirement pursuant to section 9 (1) of the Securities Trading Act or an equivalent provision of another member state of the European Union or signatory to the Agreement on the European Economic Area shall be deemed parties subject to the reporting requirement within the meaning of this subsection.

(5) The parties subject to the reporting requirement must state the type of identification (Field No. 3) in respect of transactions which they execute for a securities account holder that itself is not subject to the reporting requirement. Such information must include the identity of the securities account holder or of the securities account; the type of identification selected must be used consistently. In both cases, the party placing the order must also be stated if it is not the safe custody account holder itself. The parties subject to the reporting requirement must identify the securities account holder or the securities account by way of a sequence of numbers or letters (Field No. 4). This must allow for a clear allocation of such code to a specific securities account holder or the securities account.

§ 7
Details of Exchange Transactions

It must be stated whether the transaction was concluded at an exchange price (Field No. 21). The venue where the transaction was executed (Field No. 23 in conjunction with Field No. 21 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006) and, where appropriate, the country in which the transaction was executed (Field No. 22) must also be stated.

§ 8
Codes for Identifying the Transaction

For the purpose of identifying the transaction the following information must be given:

1. a reference number internally assigned by the party subject to the reporting requirement for every transaction, in the case of partial transactions a reference number for every partial transaction, which is clearly attributable to the party subject to the reporting requirement and the trading day (Field No. 15 in conjunction with Field No. 22 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006);
2. whether it was a buy or a sell from the perspective of the customer (Field No. 17 in conjunction with Field No. 4 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006);
3. in case of brokered or exchange-traded transactions a broker-specific identification mark for the type of the respective transaction (Abruf-Gruppe-Makler) (Field No. 60), the information whether the counterparty has been named (Aufgabegeschäft) (Field No. 59) as well as the reference number (Geschäftsnummer) and, if this reference number has changed, the original reference number (Field No. 58);
4. in the field “type of transaction” (Field No. 18) whether it was a gross price, an aggregate report pursuant to section 16 or an underlying discretionary order; if a transaction code is available in the respective trading system, such code must be stated;
5. the date for which the money settlement has been agreed (Field No. 51).

§ 9
Identification of Own Account Transactions

Transactions affecting own holdings must be identified as such (Field No. 19 in conjunction with Field No. 5 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006). It must also be stated whether the transaction was carried out on behalf of a customer or on own account (Field No. 20 in conjunction with Field No. 5 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006).

§ 10
Additional Information

In addition to the information to be provided pusuant to Section 9 subsection (2) sentences (2) and (3) of the Securities Trading Act the report must contain the following information:

1. the serial number of the report pursuant to section 2 (2) sentence 2 (Field No. 54);
2. the name of the reporting party (Field No. 55);
3. the computer data processing centre directly ahead of that of the Supervisory Authority (Field No. 52).

The party which has prepared the report shall be the reporting party as defined in sentence 1 no. 2.

§ 11
Reports Containing Errors

If the party subject to the reporting requirement detects an error in the report already filed it must, without undue delay, file the report as cancelled containing the details of the transaction to be cancelled and indicating the date of cancellation (Field No. 48 in conjunction with Field No. 23 of Table 1 of Annex I to Commission Regulation (EC) No 1287/2006). A subsequent new report of the transaction must be identified as such (Field No. 50); in this case the internal reference number must differ from the transaction and cancellation reported immediately before. Sentence 2 shall also apply to subsequent reports of a transaction.

Part 3
Transmission of the Reports

§ 12
Technical Format of Transmission

(1) The reports must be transmitted by way of a carrier file written in the ASCII code.

(2) The carrier file must carry a name consisting of a maximum of eight characters. A file may contain several reports. The file must begin with an introductory phrase and end with a concluding phrase. The introductory phrase shall consist of the following elements: the name of the carrier file; the date of the preparation of the carrier file; time of the preparation of the carrier file. The concluding phrase shall consist of the following elements: the date of the preparation of the carrier file; the time of the preparation of the carrier file; the number of records transmitted including the introductory and concluding phrase.

(3) The individual fields of the records must be separated by a semi-colon (ASCII code 59). Each record shall begin and end without a semi-colon. The individual records must be separated by a line spacing (ASCII code 13 and 10). The concluding phrase shall end without a line spacing. The end of a file may not consist of an empty record.

§ 13
Approved Data Carriers and Ways of Transmission

(1) The carrier file may be transmitted by way of a fixed line or via mailbox. If technical difficulties prevent the use of these ways of transmission in individual cases, 1.44 MB 3.5 inch diskettes (HD) in DOS format (version 3.3 or above) may also be used as data carriers.

(2) The installation of a fixed line for the transmission of data or a mailbox procedure for the purpose of transmitting the reports of the party subject to the reporting requirement or a third party to the Supervisory Authority is subject to the approval of the Supervisory Authority, and the costs must be borne by the party subject to the reporting requirement or the third party. The Supervisory Authority may refuse to permit the installation of such fixed line or mailbox if such ways of transmission would cause inappropriate costs to the Supervisory Authority.

§ 14
Reporting by Way of a Third Party

(1) The parties subject to the reporting requirement may have their reports filed by a suitable third party at their own cost. A third party is deemed suitable if it guarantees protection of the data and compliance with the reporting period specified in section 9 (1) sentence 1 of the Securities Trading Act. The Supervisory Authority may determine the unsuitability of a third party, which is deemed in particular if there is repeated filing of erroneous or late notifications. The third party must be given prior opportunity to remedy the situation within an appropriate time limit.

(2) If the parties subject to the reporting requirement authorises a third party they are deemed to have fulfilled their reporting requirement only when the third party has filed the report with the Supervisory Authority, using the fully and correctly completed reporting form, within the period of time specified in section 9 (1) sentence 1 of the Securities Trading Act.

§ 15
(Repealed)

Part 4
Aggregated Reports, Exemptions

§ 16
Aggregated Reports

Fixed price transactions of a particular day for fixed-income or floating-rate bonds of domestic issuers that are repayable at par and have been executed at the same price may be aggregated and notified in a single report for each security; in this case, the time need not to be indicated. The same applies to subscription rights that the party subject to the reporting requirement sells on behalf of its customers on the last trading day before the subscription rights expire if these transactions are executed at the same price, to allotments made on the basis of subscription and to transactions effected as part of Federal tap issues (Daueremissionen des Bundes). A collective customer identification may be used when aggregating reports (Field No. 4). This also applies to foreign parties subject to the reporting requirement who are acting on behalf of a customer that is domiciled outside Germany and is not subject to the reporting requirement pursuant to section 9 of the Securities Trading Act.

§ 17
(Repealed)

Part 5
Final Provisions

§ 18
Initial Reporting and Notification Requirement

The reports must be first filed for all transactions effected after 31 December 1995.

§ 19
Entry into Force

This Regulation shall enter into force on the day following its promulgation.

^[1]

The annex is distributed in a separate volume with the issue of the Federal Law Gazette Part I and is not enclosed herewith.