German stock exchange operator Deutsche Boerse on Wednesday announced that it will tweak its rules in order to quickly expel scandal-hit payments firm Wirecard from the prestigious Dax 30 index following its insolvency.[FRANKFURT AM MAIN] German stock exchange operator Deutsche Boerse on Wednesday announced that it will tweak its rules in order to quickly expel scandal-hit payments firm Wirecard from the prestigious Dax 30 index following its insolvency.
Under the new rules,"insolvent companies shall be removed from the Dax selection indices with two trading days' notice", Deutsche Boerse said in a statement.The change will take effect on August 19 and be implemented two days later, making August 21 Wirecard's final day on the blue-chip Dax. The digital payments provider, once a rising star in the booming fintech sector, collapsed spectacularly in June after admitting that 1.9 billion euros missing from its accounts did not exist.
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