Powers to safeguard the financial system

(1) The Bundesanstalt may, in agreement with the Deutsche Bundesbank, make orders that are suitable and necessary to remove or prevent undesirable developments that cause disadvantages for the stability of the financial markets or may undermine confidence in the functioning of the financial markets. In particular the Bundesanstalt may temporarily
1. prohibit trading in one or more financial instruments, in particular order a prohibition on the acquisition of rights under currency derivatives within the meaning of section 2(3), no. 1, letter b), d) or e) whose value is derived directly or indirectly from the foreign-exchange price of the euro, insofar as the market value of those rights is to be expected to rise on a fall in the value of the euro, and where the acquisition of the rights does not serve to hedge existing or expected own currency risks, whereby the prohibition may also be extended to entering into such transactions by legal transaction,
2. order the suspension of trading in one or more financial instruments on markets on which financial instruments are traded, or
3. order that markets on which financial instruments are traded, other than exchanges within the meaning of section 2 of the Stock Exchange Act, close or remain closed, or that the activity of systematic internalisation be discontinued. The Bundesanstalt may also issue orders under the second sentence, numbers 1 and 2, against a public-law legal entity or against an exchange.
(2) The Bundesanstalt may order that persons who enter into transactions in financial instruments must publish their positions in those financial instruments and simultaneously notify the Bundesanstalt. The Bundesanstalt may make notifications under the first sentence public on its website.
(3) Section 6(3), (11), (14) and (16) applies correspondingly.
(4) Measures under subsections (1) to (3) must be limited to a maximum of twelve months. An extension beyond that period by up to a further twelve months is permissible. In that case the Federal Ministry of Finance submits a report to the German Bundestag within one month of the extension. An objection and an action for rescission against measures under subsections (1) to (3) have no suspensive effect.