{
 "as_of": "2026-11-06",
 "cmr": "de-cm-kg/XETRA/SB1",
 "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# SMARTBROKER HLDG INH O.N. (Xetra: SB1) — research page\n\nAs of 2026-11-06 · de-cm-kg · record version 1\n\n## Identity and listing\n\nThe issuer is SMARTBROKER HLDG INH O.N., listed on Xetra under ticker SB1. Its ISIN is DE000A2GS609 and its LEI is 39120021VUEJYNGL7R59. 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 listing status is listed, not halted.\n\n## The disclosure read\n\nThe record holds 16 filings in the window 2025-11-06 to 2026-11-06, across 8 filing days. Of these, 10 are corporate news, 3 are directors' dealings, 2 are ad hoc and 1 is results. The median gap between filing days is 3 days. The latest filing is dated 2026-11-05, is of type corporate news, and falls 1 day before the record date of 2026-11-06. The Xetra peer median is 6 filings, a cadence gap of 22.8 days and a latency of 5.5 days, across 419 issuers. The sector peer median is not on the record for this market.\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 each not on the record, because this register has no lifecycle type map yet. The halt flag shows the issuer as listed, not halted.\n\n## Orderability\n\nThe outcome is determinable for all three client categories the market's chapter names: Professionelle Kunden, Privatkunden and Geeignete Gegenparteien. Each carries the 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\nNo research houses were found on the issuer's investor-relations page. The count is 0.\n\n## Open research\n\nThe record holds 1 openly published research note, from GBC AG, dated 2026-01-07.\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 has no earliest sealed date, and the live record start 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/39120021VUEJYNGL7R59 (identity.jurisdiction)\n- https://mapping.gleif.org/api/v2/isin-lei/latest/download (identity.lei)\n- https://mcp.de-cm-kg.ai/events/XETRA/SB1 (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.gbc-ag.de/media/files//2026/03/20260107_smartbroker_note_en-1.pdf (open research)\n- https://mcp.de-cm-kg.ai/record/XETRA/SB1 (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/SB1",
  "coverage": {
   "count": 0,
   "houses": [],
   "pages_checked": [
    {
     "page": "https://smartbroker-holding.de/en/investor-relations/analyst-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": 10,
    "directors_dealings": 3,
    "results": 1
   },
   "cadence_median_gap_days": 3,
   "filing_days": 8,
   "filings": 16,
   "latency_days": 1,
   "latest": [
    {
     "category": "research",
     "date": "2026-11-05",
     "source": "https://www.eqs-news.com/news/research/original-research-smartbroker-holding-ag-von-gbc-ag-kaufen/5683abeb-6f3c-421b-82aa-c158df53a8c3_de",
     "title": "SMARTBROKER HOLDING AG (von GBC AG): Kaufen",
     "type": "corporate_news"
    },
    {
     "category": "research",
     "date": "2026-11-05",
     "source": "https://www.eqs-news.com/news/research/original-research-smartbroker-holding-ag-von-gbc-ag-buy/77b8ff5d-c2e5-4a9b-9a54-93b982cc3fa0_en",
     "title": "Original-Research: SMARTBROKER HOLDING AG (von GBC AG): BUY | Research - EQS News",
     "type": "corporate_news"
    },
    {
     "category": "research",
     "date": "2026-11-05",
     "source": "https://www.eqs-news.com/de/news/research/original-research-smartbroker-holding-ag-von-gbc-ag-buy/77b8ff5d-c2e5-4a9b-9a54-93b982cc3fa0",
     "title": "Original-Research: SMARTBROKER HOLDING AG (von GBC AG): BUY | Research - EQS News",
     "type": "corporate_news"
    },
    {
     "category": "research",
     "date": "2026-11-03",
     "source": "https://www.eqs-news.com/news/research/original-research-smartbroker-holding-ag-von-montega-ag-kaufen/fb1c8d9d-5e69-4a60-a697-bb3242cff0d3_de",
     "title": "Original-Research: Smartbroker Holding AG (von Montega ...",
     "type": "corporate_news"
    },
    {
     "category": "research",
     "date": "2026-11-03",
     "source": "https://www.eqs-news.com/de/news/research/original-research-smartbroker-holding-ag-von-montega-ag-kaufen/fb1c8d9d-5e69-4a60-a697-bb3242cff0d3_de",
     "title": "Original-Research: Smartbroker Holding AG (von Montega ...",
     "type": "corporate_news"
    }
   ],
   "latest_filing_date": "2026-11-05",
   "read": "the node's event lines (list_events_since), as get_filings serves them",
   "source": "https://mcp.de-cm-kg.ai/events/XETRA/SB1",
   "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": "DE000A2GS609"
   },
   "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/39120021VUEJYNGL7R59",
    "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 DE000A2GS609)",
    "state": "sourced",
    "value": "39120021VUEJYNGL7R59"
   },
   "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": "SMARTBROKER HLDG 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": "SB1"
   },
   "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": "sha256:90d7dfd5ccab48c64b06b74ff02123537bd5a493251c0ba72cb44f9132235059",
  "open_research": {
   "read_date": "2026-11-12",
   "rows": [
    {
     "date": "2026-01-07",
     "kind": "issuer-sponsored",
     "publisher": "GBC 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.gbc-ag.de/media/files//2026/03/20260107_smartbroker_note_en-1.pdf",
     "state": "sourced",
     "title": "Smartbroker Holding AG Rating: Buy"
    }
   ],
   "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/SB1",
   "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": "sha256:90d7dfd5ccab48c64b06b74ff02123537bd5a493251c0ba72cb44f9132235059",
 "path": "/de/XETRA/SB1",
 "schema": "research-page v0.1 (USR-02, 2026-11-11)",
 "sections": [
  {
   "id": "identity",
   "text": "The issuer is SMARTBROKER HLDG INH O.N., listed on Xetra under ticker SB1. Its ISIN is DE000A2GS609 and its LEI is 39120021VUEJYNGL7R59. 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 listing status is listed, not halted.",
   "title": "Identity and listing"
  },
  {
   "id": "disclosure",
   "text": "The record holds 16 filings in the window 2025-11-06 to 2026-11-06, across 8 filing days. Of these, 10 are corporate news, 3 are directors' dealings, 2 are ad hoc and 1 is results. The median gap between filing days is 3 days. The latest filing is dated 2026-11-05, is of type corporate news, and falls 1 day before the record date of 2026-11-06. The Xetra peer median is 6 filings, a cadence gap of 22.8 days and a latency of 5.5 days, across 419 issuers. The sector peer median is not on the record for this market.",
   "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 each not on the record, because this register has no lifecycle type map yet. The halt flag shows the issuer as listed, not halted.",
   "title": "Events and halts"
  },
  {
   "id": "orderability",
   "text": "The outcome is determinable for all three client categories the market's chapter names: Professionelle Kunden, Privatkunden and Geeignete Gegenparteien. Each carries the 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": "No research houses were found on the issuer's investor-relations page. The count is 0.",
   "title": "Coverage"
  },
  {
   "id": "open_research",
   "text": "The record holds 1 openly published research note, from GBC AG, dated 2026-01-07.",
   "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 has no earliest sealed date, and the live record start 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/39120021VUEJYNGL7R59"
  },
  {
   "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/SB1"
  },
  {
   "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.gbc-ag.de/media/files//2026/03/20260107_smartbroker_note_en-1.pdf"
  },
  {
   "for": "the record",
   "source": "https://mcp.de-cm-kg.ai/record/XETRA/SB1"
  }
 ],
 "title": "SMARTBROKER HLDG INH O.N. (SB1) — research page",
 "writer": {
  "by": "Claude through the platform account, Haiku class; one pass; checked against the numbers",
  "engine": "claude-haiku-5-5"
 }
}