{
 "as_of": "2026-11-06",
 "cmr": "de-cm-kg/XETRA/BWB",
 "fence": "The page is the record's research on the issuer — no analyst, no rating, no view.",
 "markdown": "The page is the record's research on the issuer — no analyst, no rating, no view.\n\n# BAADER BANK AG (Xetra: BWB) — research page\n\nAs of 2026-11-06 · de-cm-kg · record version 1\n\n## Identity and listing\n\nThe issuer is BAADER BANK AG, listed on Xetra under ticker BWB, with ISIN DE0005088108 and LEI 529900JFOPPEDUR61H13. Its security type is Corporate, its segment is DEUTSCHLAND, and its jurisdiction is Germany (Handelsregister HRB). Its sector is not on the record, because the Xetra instruments file carries index membership and not a sector classification. Its status is listed, not halted.\n\n## The disclosure read\n\nThe record holds 17 filings in the twelve months to 2026-11-06, across 8 filing days. Of these, 13 are corporate_news and 4 are newswire_release. The median gap between filing days is 24 days. The latest filing is dated 2026-11-06, is of type corporate_news, and is 0 days before the record date. On Xetra the median cadence gap is 22.8 days across 419 issuers, the median filings count is 6, and the median latency is 5.5 days. The sector peer comparison for DE is not on the record.\n\n## Auditor\n\nThe auditor of record is not on the record. The record carries the annual report link only, as a source link and not a read. The auditor's location is not on the record, and auditor changes are not on the record because this register has no lifecycle type map yet.\n\n## Events and halts\n\nListing, delisting, name change, domicile change and segment move are not on the record, because this register has no lifecycle type map yet. The halt flag is listed, not halted.\n\n## Orderability\n\nFor the client category Professionelle Kunden, the signal is ACM-200 and the outcome is determinable. For Privatkunden, the signal is ACM-200 and the outcome is determinable. For Geeignete Gegenparteien, the signal is ACM-200 and the outcome is determinable. The rule version is acm-68000/de/mifid-ii-product-governance-produkt-berwachung/r1, and the chapter is as of 2026-11-04.\n\n## Coverage\n\nThe issuer's own investor-relations page names 2 research houses: DZ Bank AG and Raiffeisen Bank International.\n\n## Open research\n\nNo openly published research notes were found on the record.\n\n## Licensed\n\nLicensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.\n\n## As-of depth\n\nThe market's vintage is not sealed. No issuer years are sealed, the market's earliest sealed date is not on the record, and the live record began date is not on the record.\n\n## Sources\n\n8 source pages are named on this page; every value above carries its own source page and read date in the numbers.\n\n- https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares (identity.exchange)\n- https://api.gleif.org/api/v1/lei-records/529900JFOPPEDUR61H13 (identity.jurisdiction)\n- https://mapping.gleif.org/api/v2/isin-lei/latest/download (identity.lei)\n- https://mcp.de-cm-kg.ai/events/XETRA/BWB (the disclosure lines)\n- https://www.cashmarket.deutsche-boerse.com/cash-en/Stay-Informed/current-regulatory-topics/mifid-ii-releases/4086638!suspension-list (the halt flag)\n- https://mcp.de-cm-kg.ai/book/aio.json (the orderability chapter)\n- https://www.baaderbank.de/en/about-us/investor-relations/equity-story (coverage)\n- https://mcp.de-cm-kg.ai/record/XETRA/BWB (the record)\n",
 "market": "DE",
 "node": "de-cm-kg",
 "numbers": {
  "as_of_depth": {
   "issuer_years_sealed": [],
   "live_record_began": null,
   "node_history_from": null,
   "node_years_sealed": [],
   "note": "the DE vintage is not sealed; the record is the live record as of 2026-11-06",
   "record_version": 1,
   "sealed": false
  },
  "auditor": {
   "auditor": {
    "market": "DE",
    "reason": "Width 0 records the annual report link only (ORDER-015: source link, not a read)",
    "state": "not_on_record"
   },
   "auditor_firm_id": {
    "market": "DE",
    "state": "not_on_record"
   },
   "auditor_location": {
    "market": "DE",
    "state": "not_on_record"
   },
   "changes": {
    "market": "DE",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   }
  },
  "cmr": "de-cm-kg/XETRA/BWB",
  "coverage": {
   "count": 2,
   "houses": [
    {
     "house": "DZ Bank AG",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.baaderbank.de/en/about-us/investor-relations/equity-story",
     "state": "sourced"
    },
    {
     "house": "Raiffeisen Bank International",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.baaderbank.de/en/about-us/investor-relations/equity-story",
     "state": "sourced"
    }
   ],
   "pages_checked": [
    {
     "page": "https://www.baaderbank.de/en/about-us/investor-relations/equity-story",
     "result": "read: 2 of 4 named houses found on the page"
    },
    {
     "page": "https://www.baaderbank.de/media/public/db/media/1/2016/03/42/baader_q4_cn1.pdf",
     "result": "not readable by this rail (404)"
    }
   ],
   "read_by": "Perplexity sonar (search) · page read by this rail",
   "read_date": "2026-11-12",
   "since": "not stated on the page read",
   "state": "found"
  },
  "disclosure": {
   "against": {
    "exchange": {
     "issuers": 419,
     "median_cadence_gap_days": 22.8,
     "median_filings": 6,
     "median_latency_days": 5.5,
     "name": "Xetra"
    },
    "sector": {
     "market": "DE",
     "state": "not_on_record"
    }
   },
   "by_type": {
    "corporate_news": 13,
    "newswire_release": 4
   },
   "cadence_median_gap_days": 24,
   "filing_days": 8,
   "filings": 17,
   "latency_days": 0,
   "latest": [
    {
     "category": "corporate",
     "date": "2026-11-06",
     "source": "https://www.eqs-news.com/news/corporate/baader-bank-launches-baader-trading-charity-weeks-in-support-of-bild-hilft-e-v-ein-herz-fur-kinder/4586d35b-a50d-419d-bbb3-fd489c309d46_en",
     "title": "Baader Bank launches Baader Trading Charity Weeks in support of BILD hilft e.V. „Ein Herz für Kinder“ | Corporate - EQS News",
     "type": "corporate_news"
    },
    {
     "category": "corporate",
     "date": "2026-11-06",
     "source": "https://www.eqs-news.com/news/corporate/baader-bank-initiiert-die-baader-trading-charity-weeks-zugunsten-von-bild-hilft-e-v-ein-herz-fuer-kinder/4586d35b-a50d-419d-bbb3-fd489c309d46_de",
     "title": "Baader Bank initiiert die Baader Trading Charity Weeks ...",
     "type": "corporate_news"
    },
    {
     "category": "corporate-news",
     "date": "2026-11-06",
     "source": "https://www.eqs-news.com/news/corporate-news/baader-bank-initiiert-die-baader-trading-charity-weeks-zugunsten-von-bild-hilft-e-v-ein-herz-fuer-kinder/4586d35b-a50d-419d-bbb3-fd489c309d46_de",
     "title": "Baader Bank initiiert die Baader Trading Charity Weeks ...",
     "type": "corporate_news"
    },
    {
     "category": "corporate",
     "date": "2026-10-29",
     "source": "https://www.eqs-news.com/news/corporate/baader-bank-reports-positive-consolidated-nine-month-earnings-before-tax-investment-in-hyphe-and-23-hour-trading-mark-strategic-milestones/ece2faa1-15e6-4268-befe-d02ab5b82305_en",
     "title": "Baader Bank reports positive consolidated nine-month earnings before tax – investment in Hyphe and 23-hour trading mark strategic milestones | Corporate - EQS News",
     "type": "corporate_news"
    },
    {
     "category": "corporate-news",
     "date": "2026-10-29",
     "source": "https://www.eqs-news.com/news/corporate-news/baader-bank-erzielt-positives-neunmonatsergebnis-vor-steuern-im-konzern-hyphe-beteiligung-und-23-stunden-handel-als-strategische-meilensteine/ece2faa1-15e6-4268-befe-d02ab5b82305_de",
     "title": "Baader Bank erzielt positives Neunmonatsergebnis vor ...",
     "type": "corporate_news"
    }
   ],
   "latest_filing_date": "2026-11-06",
   "read": "the node's event lines (list_events_since), as get_filings serves them",
   "source": "https://mcp.de-cm-kg.ai/events/XETRA/BWB",
   "window": {
    "from": "2025-11-06",
    "to": "2026-11-06"
   }
  },
  "identity": {
   "exchange": {
    "read_by": "Xetra all-tradable-instruments file (exchange list, daily) (Date Last Update:;11.09.2026)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares (file allTradableInstruments.csv)",
    "state": "sourced",
    "value": "Xetra"
   },
   "isin": {
    "read_by": "Xetra all-tradable-instruments file (exchange list, daily)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares (file allTradableInstruments.csv)",
    "state": "confirmed",
    "value": "DE0005088108"
   },
   "jurisdiction": {
    "read_by": "GLEIF LEI record (LEI per the LEI column) (registeredAs)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://api.gleif.org/api/v1/lei-records/529900JFOPPEDUR61H13",
    "state": "sourced",
    "value": "Germany (Handelsregister HRB)"
   },
   "lei": {
    "read_by": "GLEIF ISIN-to-LEI mapping file (daily), LEI by exact ISIN",
    "read_date": "2026-11-09",
    "read_date_basis": "the field",
    "source": "https://mapping.gleif.org/api/v2/isin-lei/latest/download (ISIN DE0005088108)",
    "state": "sourced",
    "value": "529900JFOPPEDUR61H13"
   },
   "name": {
    "read_by": "Xetra all-tradable-instruments file (exchange list, daily) (Date Last Update:;11.09.2026)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares (file allTradableInstruments.csv)",
    "state": "sourced",
    "value": "BAADER BANK AG"
   },
   "sector": {
    "market": "DE",
    "reason": "the Xetra instruments file carries index membership, not a sector classification",
    "state": "not_on_record"
   },
   "security_type": {
    "read_by": "Xetra all-tradable-instruments file (exchange list, daily) (Date Last Update:;11.09.2026)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares (file allTradableInstruments.csv)",
    "state": "sourced",
    "value": "Corporate"
   },
   "segment": {
    "read_by": "Xetra all-tradable-instruments file (exchange list, daily) (Date Last Update:;11.09.2026)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares (file allTradableInstruments.csv)",
    "state": "sourced",
    "value": "DEUTSCHLAND"
   },
   "ticker": {
    "read_by": "Xetra all-tradable-instruments file (exchange list, daily) (Date Last Update:;11.09.2026)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares (file allTradableInstruments.csv)",
    "state": "sourced",
    "value": "BWB"
   },
   "website": {
    "market": "DE",
    "state": "not_on_record"
   }
  },
  "licensed": {
   "columns": [
    "licensor",
    "entitlement",
    "title",
    "date",
    "source"
   ],
   "rows": [],
   "rule": "A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded."
  },
  "lifecycle": {
   "delisting": {
    "market": "DE",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "domicile_change": {
    "market": "DE",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "listing": {
    "market": "DE",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "name_change": {
    "market": "DE",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "segment_move": {
    "market": "DE",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   }
  },
  "market": "DE",
  "node": "de-cm-kg",
  "numbers_hash": "sha256:2dc4e8cbad5e05629a1cf80f6c8e6e045cac4d20ae91b82cf18cfd0e474d85c0",
  "open_research": {
   "read_date": "2026-11-12",
   "rows": [],
   "state": "none_found"
  },
  "orderability": {
   "chapter_as_of": "2026-11-04",
   "client_categories": [
    "Professionelle Kunden",
    "Privatkunden",
    "Geeignete Gegenparteien"
   ],
   "outcomes": {
    "Geeignete Gegenparteien": {
     "determinable": true,
     "signal": "ACM-200"
    },
    "Privatkunden": {
     "determinable": true,
     "signal": "ACM-200"
    },
    "Professionelle Kunden": {
     "determinable": true,
     "signal": "ACM-200"
    }
   },
   "read": {
    "basis": "one live read per instrument class, halt state and client category on this market; this issuer's group",
    "chapter": "https://mcp.de-cm-kg.ai/book/aio.json",
    "door": "https://mcp.de-cm-kg.ai/mcp",
    "tool": "get_orderability"
   },
   "rule_version": "acm-68000/de/mifid-ii-product-governance-produkt-berwachung/r1",
   "section": "de.aio.v13"
  },
  "record": {
   "as_of": "2026-11-06",
   "url": "https://mcp.de-cm-kg.ai/record/XETRA/BWB",
   "version": 1
  },
  "schema": "research-numbers v0.1 (USR-01, 2026-11-11)",
  "status": {
   "read_date": "2026-11-09",
   "source": "https://www.cashmarket.deutsche-boerse.com/cash-en/Stay-Informed/current-regulatory-topics/mifid-ii-releases/4086638!suspension-list",
   "value": "listed, not halted"
  }
 },
 "numbers_hash": "sha256:2dc4e8cbad5e05629a1cf80f6c8e6e045cac4d20ae91b82cf18cfd0e474d85c0",
 "path": "/de/XETRA/BWB",
 "schema": "research-page v0.1 (USR-02, 2026-11-11)",
 "sections": [
  {
   "id": "identity",
   "text": "The issuer is BAADER BANK AG, listed on Xetra under ticker BWB, with ISIN DE0005088108 and LEI 529900JFOPPEDUR61H13. Its security type is Corporate, its segment is DEUTSCHLAND, and its jurisdiction is Germany (Handelsregister HRB). Its sector is not on the record, because the Xetra instruments file carries index membership and not a sector classification. Its status is listed, not halted.",
   "title": "Identity and listing"
  },
  {
   "id": "disclosure",
   "text": "The record holds 17 filings in the twelve months to 2026-11-06, across 8 filing days. Of these, 13 are corporate_news and 4 are newswire_release. The median gap between filing days is 24 days. The latest filing is dated 2026-11-06, is of type corporate_news, and is 0 days before the record date. On Xetra the median cadence gap is 22.8 days across 419 issuers, the median filings count is 6, and the median latency is 5.5 days. The sector peer comparison for DE is not on the record.",
   "title": "The disclosure read"
  },
  {
   "id": "auditor",
   "text": "The auditor of record is not on the record. The record carries the annual report link only, as a source link and not a read. The auditor's location is not on the record, and auditor changes are not on the record because this register has no lifecycle type map yet.",
   "title": "Auditor"
  },
  {
   "id": "events",
   "text": "Listing, delisting, name change, domicile change and segment move are not on the record, because this register has no lifecycle type map yet. The halt flag is listed, not halted.",
   "title": "Events and halts"
  },
  {
   "id": "orderability",
   "text": "For the client category Professionelle Kunden, the signal is ACM-200 and the outcome is determinable. For Privatkunden, the signal is ACM-200 and the outcome is determinable. For Geeignete Gegenparteien, the signal is ACM-200 and the outcome is determinable. The rule version is acm-68000/de/mifid-ii-product-governance-produkt-berwachung/r1, and the chapter is as of 2026-11-04.",
   "title": "Orderability"
  },
  {
   "id": "coverage",
   "text": "The issuer's own investor-relations page names 2 research houses: DZ Bank AG and Raiffeisen Bank International.",
   "title": "Coverage"
  },
  {
   "id": "open_research",
   "text": "No openly published research notes were found on the record.",
   "title": "Open research"
  },
  {
   "id": "licensed",
   "text": "Licensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.",
   "title": "Licensed"
  },
  {
   "id": "depth",
   "text": "The market's vintage is not sealed. No issuer years are sealed, the market's earliest sealed date is not on the record, and the live record began date is not on the record.",
   "title": "As-of depth"
  },
  {
   "id": "sources",
   "text": "8 source pages are named on this page; every value above carries its own source page and read date in the numbers.",
   "title": "Sources"
  }
 ],
 "sources": [
  {
   "for": "identity.exchange",
   "source": "https://www.xetra.com/xetra-en/instruments/shares/list-of-tradable-shares"
  },
  {
   "for": "identity.jurisdiction",
   "source": "https://api.gleif.org/api/v1/lei-records/529900JFOPPEDUR61H13"
  },
  {
   "for": "identity.lei",
   "source": "https://mapping.gleif.org/api/v2/isin-lei/latest/download"
  },
  {
   "for": "the disclosure lines",
   "source": "https://mcp.de-cm-kg.ai/events/XETRA/BWB"
  },
  {
   "for": "the halt flag",
   "source": "https://www.cashmarket.deutsche-boerse.com/cash-en/Stay-Informed/current-regulatory-topics/mifid-ii-releases/4086638!suspension-list"
  },
  {
   "for": "the orderability chapter",
   "source": "https://mcp.de-cm-kg.ai/book/aio.json"
  },
  {
   "for": "coverage",
   "source": "https://www.baaderbank.de/en/about-us/investor-relations/equity-story"
  },
  {
   "for": "the record",
   "source": "https://mcp.de-cm-kg.ai/record/XETRA/BWB"
  }
 ],
 "title": "BAADER BANK AG (BWB) — research page",
 "writer": {
  "by": "Claude through the platform account, Haiku class; one pass; checked against the numbers",
  "engine": "claude-haiku-5-5"
 }
}