{
 "as_of": "2026-11-06",
 "cmr": "de-cm-kg/XETRA/NF4",
 "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# NETFONDS AG  VNA O.N. (Xetra: NF4) — research page\n\nAs of 2026-11-06 · de-cm-kg · record version 1\n\n## Identity and listing\n\nThe issuer is NETFONDS AG VNA O.N., listed on Xetra under ticker NF4, ISIN DE000A1MME74, LEI 9676009U2B9KFVJFUF64. Its security type is Corporate and its segment is DEUTSCHLAND. The sector is not on the record, because the Xetra instruments file carries index membership and not a sector classification. Its jurisdiction is Germany (Handelsregister HRB). Its status is listed, not halted.\n\n## The disclosure read\n\nThe record holds 11 filings in the twelve months to 2026-11-06, across 5 filing days. The filings are 2 ad hoc, 5 corporate news, 3 newswire release and 1 results. The median gap between filing days is 71.0 days. The latest filing is dated 2026-09-08, a newswire release, 59 days before the record date. On Xetra the median filings count is 6, the median cadence gap is 22.8 days and the median latency is 5.5 days, across 419 issuers. The sector peer figures are not on the record for market DE.\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. The auditor's location is not on the record, and the auditor changes are not on the record.\n\n## Events and halts\n\nThe listing, delisting, name change, domicile change and segment move lines are not on the record, because no lifecycle type map exists for this register yet. The halt flag is listed, not halted.\n\n## Orderability\n\nFor 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\nNo research houses were found on the issuer's own investor-relations page. The count is 0.\n\n## Open research\n\nThe record holds 1 openly published research note: Montega AG, dated 2024-02-09.\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's start 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/9676009U2B9KFVJFUF64 (identity.jurisdiction)\n- https://mapping.gleif.org/api/v2/isin-lei/latest/download (identity.lei)\n- https://mcp.de-cm-kg.ai/events/XETRA/NF4 (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.netfonds-group.com/fileadmin/Die_Netfonds_Gruppe/Investor_Relations/Analysen_und_Praesentationen/2024/EN/NF4_Comment_02_2024_EN.pdf (open research)\n- https://mcp.de-cm-kg.ai/record/XETRA/NF4 (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/NF4",
  "coverage": {
   "count": 0,
   "houses": [],
   "pages_checked": [
    {
     "page": "https://netfonds-group.com/en/coverage",
     "result": "read: 0 of 1 named houses found on the page; the page does not name the issuer"
    }
   ],
   "read_by": "Perplexity sonar (search) · page read by this rail",
   "read_date": "2026-11-12",
   "since": null,
   "state": "none_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": 2,
    "corporate_news": 5,
    "newswire_release": 3,
    "results": 1
   },
   "cadence_median_gap_days": 71,
   "filing_days": 5,
   "filings": 11,
   "latency_days": 59,
   "latest": [
    {
     "category": null,
     "date": "2026-09-08",
     "source": "https://www.eqs-news.com/news/research/original-research-netfonds-ag-von-montega-ag-n-a/970ac9f7-4cfd-46bd-9db7-f0948b32a258",
     "title": "Original-Research: Netfonds AG (von Montega AG): n.a. | Research - EQS News",
     "type": "newswire_release"
    },
    {
     "category": "research",
     "date": "2026-09-08",
     "source": "https://www.eqs-news.com/news/research/original-research-netfonds-ag-von-montega-ag-n-a/970ac9f7-4cfd-46bd-9db7-f0948b32a258",
     "title": "Original-Research: Netfonds AG (von Montega AG): n.a. - EQS News",
     "type": "corporate_news"
    },
    {
     "category": null,
     "date": "2026-06-12",
     "source": "https://www.eqs-news.com/news/corporate/netfonds-ag-veroffentlicht-gepruften-und-festgestellten-jahresabschluss-2025/2379887b-d5ce-49bc-811f-1bc0a499b447_de",
     "title": "Netfonds AG veröffentlicht geprüften und festgestellten Jahresabschluss 2025 | Corporate - EQS News",
     "type": "results"
    },
    {
     "category": "corporate",
     "date": "2026-06-12",
     "source": "https://www.eqs-news.com/news/corporate/netfonds-ag-veroffentlicht-gepruften-und-festgestellten-jahresabschluss-2025/2379887b-d5ce-49bc-811f-1bc0a499b447_de",
     "title": "Netfonds AG veröffentlicht geprüften und festgestellten ... - EQS News",
     "type": "corporate_news"
    },
    {
     "category": "corporate",
     "date": "2026-03-23",
     "source": "https://www.eqs-news.com/news/corporate/vorstand-und-aufsichtsrat-veroffentlichen-gemeinsame-unterstutzende-stellungnahme-zur-angebotsunterlage-und-empfehlen-aktionaren-die-annahme-des-angebots/54a1513b-b084-448f-a653-60cde21ff51a_de",
     "title": "Netfonds AG Vorstand und Aufsichtsrat veröffentlichen gemeinsame ...",
     "type": "corporate_news"
    }
   ],
   "latest_filing_date": "2026-09-08",
   "read": "the node's event lines (list_events_since), as get_filings serves them",
   "source": "https://mcp.de-cm-kg.ai/events/XETRA/NF4",
   "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": "DE000A1MME74"
   },
   "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/9676009U2B9KFVJFUF64",
    "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 DE000A1MME74)",
    "state": "sourced",
    "value": "9676009U2B9KFVJFUF64"
   },
   "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": "NETFONDS AG  VNA 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": "NF4"
   },
   "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:ba4b0d9a99847e301bb6031174e4a1e1a44c1854ac73f525df689b51ef9e27b1",
  "open_research": {
   "read_date": "2026-11-12",
   "rows": [
    {
     "date": "2024-02-09",
     "kind": "issuer-sponsored",
     "publisher": "Montega AG",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://www.netfonds-group.com/fileadmin/Die_Netfonds_Gruppe/Investor_Relations/Analysen_und_Praesentationen/2024/EN/NF4_Comment_02_2024_EN.pdf",
     "state": "sourced",
     "title": "Netfonds strengthens insurance business by acquiring consulting network MFK"
    }
   ],
   "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/NF4",
   "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:ba4b0d9a99847e301bb6031174e4a1e1a44c1854ac73f525df689b51ef9e27b1",
 "path": "/de/XETRA/NF4",
 "schema": "research-page v0.1 (USR-02, 2026-11-11)",
 "sections": [
  {
   "id": "identity",
   "text": "The issuer is NETFONDS AG VNA O.N., listed on Xetra under ticker NF4, ISIN DE000A1MME74, LEI 9676009U2B9KFVJFUF64. Its security type is Corporate and its segment is DEUTSCHLAND. The sector is not on the record, because the Xetra instruments file carries index membership and not a sector classification. Its jurisdiction is Germany (Handelsregister HRB). Its status is listed, not halted.",
   "title": "Identity and listing"
  },
  {
   "id": "disclosure",
   "text": "The record holds 11 filings in the twelve months to 2026-11-06, across 5 filing days. The filings are 2 ad hoc, 5 corporate news, 3 newswire release and 1 results. The median gap between filing days is 71.0 days. The latest filing is dated 2026-09-08, a newswire release, 59 days before the record date. On Xetra the median filings count is 6, the median cadence gap is 22.8 days and the median latency is 5.5 days, across 419 issuers. The sector peer figures are not on the record for market DE.",
   "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. The auditor's location is not on the record, and the auditor changes are not on the record.",
   "title": "Auditor"
  },
  {
   "id": "events",
   "text": "The listing, delisting, name change, domicile change and segment move lines are not on the record, because no lifecycle type map exists for this register yet. The halt flag is listed, not halted.",
   "title": "Events and halts"
  },
  {
   "id": "orderability",
   "text": "For 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": "No research houses were found on the issuer's own investor-relations page. The count is 0.",
   "title": "Coverage"
  },
  {
   "id": "open_research",
   "text": "The record holds 1 openly published research note: Montega AG, dated 2024-02-09.",
   "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's start 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/9676009U2B9KFVJFUF64"
  },
  {
   "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/NF4"
  },
  {
   "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": "open research",
   "source": "https://www.netfonds-group.com/fileadmin/Die_Netfonds_Gruppe/Investor_Relations/Analysen_und_Praesentationen/2024/EN/NF4_Comment_02_2024_EN.pdf"
  },
  {
   "for": "the record",
   "source": "https://mcp.de-cm-kg.ai/record/XETRA/NF4"
  }
 ],
 "title": "NETFONDS AG  VNA O.N. (NF4) — research page",
 "writer": {
  "by": "Claude through the platform account, Haiku class; one pass; checked against the numbers",
  "engine": "claude-haiku-5-5"
 }
}