The Frankfurt Stock Exchange earlier this year agreed to move to screen-based trading in 2012, but has opted for a faster transition in the face of increasing competition in European markets. From May 2011, trading will take place exclusively via the Xetra system. with redundant floor brokers taking on the role of market-makers on the new platform.

Dr Lutz Raettig, chairman of the FWB Exchange Council, says: "The Exchange Council welcomes the consensual agreement of the lead brokers to end floor trading before the expiry of the planned transition period. With today's decision, we are responding to the changes in the competitive and regulatory environment of the stock exchange and ensuring that the FWB can strengthen its competitive position while at the same time optimally fulfilling its economic role."

He says the trading hall of the Frankfurt Stock Exchange will remain open after the switch, operating as a central hub for screen-based specialists under the new regime.