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Deutsche Boerse proposes new rules for quick DAX expulsion in wake of Wirecard

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Hans Seidenstuecker Reuters
Tom Sims Reuters
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Credit: REUTERS/ANDREAS GEBERT

In the wake of the Wirecard accounting scandal, exchange operator Deutsche Boerse said on Thursday it was proposing rules to enable it to quickly expel companies from the leading DAX index when those firms file for insolvency.

FRANKFURT, July 17 (Reuters) - In the wake of the Wirecard WDIG.DE accounting scandal, exchange operator Deutsche Boerse DB1Gn.DE said on Thursday it was proposing rules to enable it to quickly expel companies from the leading DAX index when those firms file for insolvency.

This ruling, if adopted, could mean that Wirecard would leave the DAX index in August, rather than during a regular review of the index makeup in September.

(Reporting by Hans Seidenstuecker and Tom Sims Editing by Michelle Martin)

((Tom.Sims@thomsonreuters.com; +49 69 7565 1242;))

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