When was entex la discontinued

Coinbase shock: trading will cease on Friday

It was only a week ago that the crypto exchange operator Coinbase went public via direct listing. Now the share threatens to end in this country. Deutsche Börse will cease trading in the securities on Xetra and on the Frankfurt Stock Exchange, at least temporarily. The Lang & Schwarz and Tradegate platforms will also de-list the title again.

As the reason for the drastic step, the exchange operator named "missing master or identification data" in a communication on Wednesday. At the start of trading on the Deutsche Börse platforms in the previous week, an incorrect reference number was specified or used. However, this is essential for trade in Germany and Europe.

“When Coinbase started trading, an LEI code was mistakenly used for a Coinbase entity that cannot be assigned to the entity introduced last week (Coinbase Global Inc.). A correct LEI code is a regulatory requirement for admission to trading in Europe, ”explained a spokeswoman for Deutsche Börse when asked by the SHAREHOLDER.

For this reason, trading on the Frankfurt Stock Exchange and on Xetra will be temporarily suspended on Friday, April 23, 2021. In order to be able to resume trading, the issuer must apply for a new, correct LEI.

Lang & Schwarz and Tradegate also have to react

As a consequence, Lang & Schwarz will also cease trading in Coinbase shares on Friday, April 23, 2021, from 8:00 p.m. until further notice, confirmed a company spokesman at the request of a SHAREHOLDER. The Tradegate platform must also react: "As a result, trading on the Tradegate Exchange will be discontinued at the end of April 22nd, 2021," the company announced on Wednesday.

It has not yet been possible to determine who is responsible for the error. Coinbase has not yet responded to the SHAREHOLDER's request for a statement - but we will keep you up to date with updates.

Investors have so far reacted calmly to the report. The minus on Xetra is moderate. The discounts at Tradegate and Lang & Schwarz are somewhat clearer. Even in pre-market US trading, where the incorrect reference number has no direct impact, it is down by around 1.3 percent.

THE SHAREHOLDER assumes that the error will be rectified quickly and that the share will then be tradable again in this country. The purchase limit of 200 euros has not yet been triggered - the price is currently around 25 percent above it.