Deutsche Börse controls a huge treasure trove of data.
Market data such as share prices and index composition details are becoming more relevant, and with it the profits that can be made from them.
Many market participants complain about this data monopoly, especially since the stock exchange can use it to minimize or prevent competition in the index business.
There are no price negotiations with the stock exchange, fund, certificate and index providers have been reporting for years.
They get price lists and have to either accept them or leave the market.
The behavior is deplorable, and there are repeated attempts to take action at the EU - without success.
The stock exchange is currently demonstrating in a particularly clear way how it deals with the market.
When replacing Linde in the Dax, which the stock exchange set on February 27th, it leaves everyone involved in the dark at most.
Before being included in the Dax, Commerzbank must provide proof of profitability, and then this will be taken into account within 12 to 24 hours, according to the stock exchange.
Commerzbank therefore presented its figures in advance on Monday.
But 12 to 24 hours later, the stock exchange does not want to comment on whether this will be taken into account or not.
This will be decided on Tuesday, but the market (if it pays money for it) will not be informed until Friday evening, according to Tuesday afternoon.
A sensible handling of price-relevant information looks different.