{
 "as_of": "2026-11-06",
 "cmr": "de-cm-kg/XETRA/ISHA",
 "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# INTERSHOP COMM.  INH O.N. (Xetra: ISHA) — research page\n\nAs of 2026-11-06 · de-cm-kg · record version 1\n\n## Identity and listing\n\nThe issuer is INTERSHOP COMM. INH O.N., listed on Xetra under ticker ISHA, ISIN DE000A254211, LEI 5299009E3J3ZK6P0GX20. Its security type is Corporate and its segment is DEUTSCHLAND. Sector is not on the record, since the Xetra instruments file carries index membership and not a sector classification. Jurisdiction is Germany (Handelsregister HRB). Listing status is listed, not halted.\n\n## The disclosure read\n\nThe record holds 5 filings on 5 filing days in the window 2025-11-06 to 2026-11-06, of which 1 is ad hoc and 4 are corporate news. The median gap between filing days is 59.5 days. The latest filing is dated 2026-10-23, a corporate news item, 14 days before the record date of 2026-11-06. On Xetra the record holds 419 issuers with a median of 6 filings, a median cadence gap of 22.8 days and a median latency of 5.5 days. Sector peer medians are not on the record.\n\n## Auditor\n\nThe auditor is not on the record. The record carries the annual report link only, as a source link and not a read. Auditor 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 shows listed, not halted.\n\n## Orderability\n\nThe outcome is determinable for all three client categories the chapter names: Professionelle Kunden, Privatkunden and Geeignete Gegenparteien. Each carries signal ACM-200. 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 investor-relations page names 4 research houses: mwb research, Pareto Research, Equinet Research and Quirin Privatbank Equity Research.\n\n## Open research\n\nThe record holds 6 openly published research notes: mwb research on 2026-02-19, mwb research on 2025-07-21, mwb research on 2025-04-30, mwb research on 2024-11-18, Quirin Privatbank Equity Research on 2024-07-26, and Equinet Research on 2018-11-20.\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, so no sealed years hold the issuer and no earliest sealed date is given. The live record began on the record's own schedule, which is not on the record.\n\n## Sources\n\n14 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/5299009E3J3ZK6P0GX20 (identity.jurisdiction)\n- https://mapping.gleif.org/api/v2/isin-lei/latest/download (identity.lei)\n- https://mcp.de-cm-kg.ai/events/XETRA/ISHA (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.intershop.com/de/analyst-research (coverage)\n- https://www.intershop.com/files/Intershop-2020/materials_pdfs/Investors/en/analyst-research/20260219_Update_MWB.pdf (open research)\n- https://www.intershop.com/files/Intershop-2020/materials_pdfs/Investors/en/analyst-research/Update_MWB_21.07.2025.pdf (open research)\n- https://www.intershop.com/files/Intershop-2020/materials_pdfs/Investors/en/analyst-research/Update_MWB_30.04.2025.pdf (open research)\n- https://www.intershop.com/files/Intershop-2020/materials_pdfs/Investors/en/analyst-research/2024-11-18_mwb_research_Studie.pdf (open research)\n- https://www.intershop.com/files/Intershop-2020/materials_pdfs/Investors/en/analyst-research/Quirin_2024-07-26.pdf (open research)\n- https://www.intershop.com/files/Intershop/media/downloads/en/investors/analyst-research/equinet/2018-11-20_Equinet.pdf (open research)\n- https://mcp.de-cm-kg.ai/record/XETRA/ISHA (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/ISHA",
  "coverage": {
   "count": 4,
   "houses": [
    {
     "house": "mwb research",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.intershop.com/de/analyst-research",
     "state": "sourced"
    },
    {
     "house": "Pareto Research",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.intershop.com/de/analyst-research",
     "state": "sourced"
    },
    {
     "house": "Equinet Research",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "since": "2018-06-25",
     "source": "https://www.intershop.com/de/analyst-research",
     "state": "sourced"
    },
    {
     "house": "Quirin Privatbank Equity Research",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-12",
     "source": "https://www.intershop.com/de/analyst-research",
     "state": "sourced"
    }
   ],
   "pages_checked": [
    {
     "page": "https://www.intershop.com/de/analyst-research",
     "result": "read: 4 of 8 named houses found on the page"
    }
   ],
   "read_by": "Perplexity sonar (search) · page read by this rail",
   "read_date": "2026-11-12",
   "since": "stated per house where the page states it",
   "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": {
    "ad_hoc": 1,
    "corporate_news": 4
   },
   "cadence_median_gap_days": 59.5,
   "filing_days": 5,
   "filings": 5,
   "latency_days": 14,
   "latest": [
    {
     "category": "research-channel",
     "date": "2026-10-23",
     "source": "https://www.eqs-news.com/news/research-channel/original-research-intershop-communications-ag-von-quirin-privatbank-kapitalmarktgeschaeft-buy/626c1d04-69eb-4e55-9d42-d1dc5d83ce42_en",
     "title": "Original-Research: Intershop Communications AG (von Quirin Privatbank Kapitalmarktgeschäft): Buy | Research - EQS News",
     "type": "corporate_news"
    },
    {
     "category": "corporate",
     "date": "2026-10-21",
     "source": "https://www.eqs-news.com/news/corporate/intershop-publishes-figures-for-the-first-nine-months-of-2026/245d1629-e005-407a-821e-1bd3d1af5f11_en",
     "title": "Intershop publishes figures for the first nine months of 2026 | Corporate - EQS News",
     "type": "corporate_news"
    },
    {
     "category": "ad-hoc",
     "date": "2026-08-26",
     "source": "https://www.eqs-news.com/news/ad-hoc/intershop-increases-operating-profit-and-expands-portfolio/ffc48970-2f61-4c12-97b0-3a0f1ed56951_en",
     "title": "Intershop Increases Operating Profit and Expands Portfolio | Ad-hoc - EQS News",
     "type": "ad_hoc"
    },
    {
     "category": "corporate",
     "date": "2026-04-22",
     "source": "https://www.eqs-news.com/news/corporate/intershop-veroffentlicht-zahlen-fur-das-erste-quartal-2026/7d5cc5be-0511-4aa2-83bf-56341bbad26e_de",
     "title": "Intershop veröffentlicht Zahlen für das erste Quartal 2026 - EQS News",
     "type": "corporate_news"
    },
    {
     "category": "corporate",
     "date": "2026-02-18",
     "source": "https://www.eqs-news.com/news/corporate/intershop-veroffentlicht-vorlaufige-zahlen-fur-das-geschaftsjahr-2025/909148e3-336b-428e-b8d4-a210c70ed367_de",
     "title": "Intershop veröffentlicht vorläufige Zahlen für das Geschäftsjahr 2025",
     "type": "corporate_news"
    }
   ],
   "latest_filing_date": "2026-10-23",
   "read": "the node's event lines (list_events_since), as get_filings serves them",
   "source": "https://mcp.de-cm-kg.ai/events/XETRA/ISHA",
   "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": "DE000A254211"
   },
   "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/5299009E3J3ZK6P0GX20",
    "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 DE000A254211)",
    "state": "sourced",
    "value": "5299009E3J3ZK6P0GX20"
   },
   "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": "INTERSHOP COMM.  INH O.N."
   },
   "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": "ISHA"
   },
   "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": "sha256:49622612d2db300f4d29f1cbf4638adce7e913abe539df8d05dda7413968b9f8",
  "open_research": {
   "read_date": "2026-11-12",
   "rows": [
    {
     "date": "2026-02-19",
     "kind": "issuer-sponsored",
     "publisher": "mwb research",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://www.intershop.com/files/Intershop-2020/materials_pdfs/Investors/en/analyst-research/20260219_Update_MWB.pdf",
     "state": "sourced",
     "title": "Intershop Communications AG"
    },
    {
     "date": "2025-07-21",
     "kind": "issuer-sponsored",
     "publisher": "mwb research",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://www.intershop.com/files/Intershop-2020/materials_pdfs/Investors/en/analyst-research/Update_MWB_21.07.2025.pdf",
     "state": "sourced",
     "title": "Intershop Communications AG: Cloud weakness and service drag ..."
    },
    {
     "date": "2025-04-30",
     "kind": "issuer-sponsored",
     "publisher": "mwb research",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://www.intershop.com/files/Intershop-2020/materials_pdfs/Investors/en/analyst-research/Update_MWB_30.04.2025.pdf",
     "state": "sourced",
     "title": "Intershop Communications AG"
    },
    {
     "date": "2024-11-18",
     "kind": "issuer-sponsored",
     "publisher": "mwb research",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://www.intershop.com/files/Intershop-2020/materials_pdfs/Investors/en/analyst-research/2024-11-18_mwb_research_Studie.pdf",
     "state": "sourced",
     "title": "Intershop Communications AG: PaaS-transformation drives ..."
    },
    {
     "date": "2024-07-26",
     "kind": "issuer-sponsored",
     "publisher": "Quirin Privatbank Equity Research",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://www.intershop.com/files/Intershop-2020/materials_pdfs/Investors/en/analyst-research/Quirin_2024-07-26.pdf",
     "state": "sourced",
     "title": "Cloud business very favorable"
    },
    {
     "date": "2018-11-20",
     "kind": "issuer-sponsored",
     "publisher": "Equinet Research",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://www.intershop.com/files/Intershop/media/downloads/en/investors/analyst-research/equinet/2018-11-20_Equinet.pdf",
     "state": "sourced",
     "title": "Intershop Communications AG"
    }
   ],
   "state": "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/ISHA",
   "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": "sha256:49622612d2db300f4d29f1cbf4638adce7e913abe539df8d05dda7413968b9f8",
 "path": "/de/XETRA/ISHA",
 "schema": "research-page v0.1 (USR-02, 2026-11-11)",
 "sections": [
  {
   "id": "identity",
   "text": "The issuer is INTERSHOP COMM. INH O.N., listed on Xetra under ticker ISHA, ISIN DE000A254211, LEI 5299009E3J3ZK6P0GX20. Its security type is Corporate and its segment is DEUTSCHLAND. Sector is not on the record, since the Xetra instruments file carries index membership and not a sector classification. Jurisdiction is Germany (Handelsregister HRB). Listing status is listed, not halted.",
   "title": "Identity and listing"
  },
  {
   "id": "disclosure",
   "text": "The record holds 5 filings on 5 filing days in the window 2025-11-06 to 2026-11-06, of which 1 is ad hoc and 4 are corporate news. The median gap between filing days is 59.5 days. The latest filing is dated 2026-10-23, a corporate news item, 14 days before the record date of 2026-11-06. On Xetra the record holds 419 issuers with a median of 6 filings, a median cadence gap of 22.8 days and a median latency of 5.5 days. Sector peer medians are not on the record.",
   "title": "The disclosure read"
  },
  {
   "id": "auditor",
   "text": "The auditor is not on the record. The record carries the annual report link only, as a source link and not a read. Auditor 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 shows listed, not halted.",
   "title": "Events and halts"
  },
  {
   "id": "orderability",
   "text": "The outcome is determinable for all three client categories the chapter names: Professionelle Kunden, Privatkunden and Geeignete Gegenparteien. Each carries signal ACM-200. 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 investor-relations page names 4 research houses: mwb research, Pareto Research, Equinet Research and Quirin Privatbank Equity Research.",
   "title": "Coverage"
  },
  {
   "id": "open_research",
   "text": "The record holds 6 openly published research notes: mwb research on 2026-02-19, mwb research on 2025-07-21, mwb research on 2025-04-30, mwb research on 2024-11-18, Quirin Privatbank Equity Research on 2024-07-26, and Equinet Research on 2018-11-20.",
   "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, so no sealed years hold the issuer and no earliest sealed date is given. The live record began on the record's own schedule, which is not on the record.",
   "title": "As-of depth"
  },
  {
   "id": "sources",
   "text": "14 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/5299009E3J3ZK6P0GX20"
  },
  {
   "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/ISHA"
  },
  {
   "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.intershop.com/de/analyst-research"
  },
  {
   "for": "open research",
   "source": "https://www.intershop.com/files/Intershop-2020/materials_pdfs/Investors/en/analyst-research/20260219_Update_MWB.pdf"
  },
  {
   "for": "open research",
   "source": "https://www.intershop.com/files/Intershop-2020/materials_pdfs/Investors/en/analyst-research/Update_MWB_21.07.2025.pdf"
  },
  {
   "for": "open research",
   "source": "https://www.intershop.com/files/Intershop-2020/materials_pdfs/Investors/en/analyst-research/Update_MWB_30.04.2025.pdf"
  },
  {
   "for": "open research",
   "source": "https://www.intershop.com/files/Intershop-2020/materials_pdfs/Investors/en/analyst-research/2024-11-18_mwb_research_Studie.pdf"
  },
  {
   "for": "open research",
   "source": "https://www.intershop.com/files/Intershop-2020/materials_pdfs/Investors/en/analyst-research/Quirin_2024-07-26.pdf"
  },
  {
   "for": "open research",
   "source": "https://www.intershop.com/files/Intershop/media/downloads/en/investors/analyst-research/equinet/2018-11-20_Equinet.pdf"
  },
  {
   "for": "the record",
   "source": "https://mcp.de-cm-kg.ai/record/XETRA/ISHA"
  }
 ],
 "title": "INTERSHOP COMM.  INH O.N. (ISHA) — research page",
 "writer": {
  "by": "Claude through the platform account, Haiku class; one pass; checked against the numbers",
  "engine": "claude-haiku-5-5"
 }
}