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BaFin calls contingency planning and stress testing critical

Large waves approach the deserted Carcavelos Beach on a day of turbulent weather
Photo: Horacio Villalobos/Corbis via Getty Images

Thomas Hyrkiel

1 min read
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The regulator’s supervisory statement seeks to clarify its expectations of brokers in connection with client securities trading during times of market turbulence.

The backdrop to this document are the technical problems some online brokers suffered in April 2025. Rapid stock price movement and very heavy trading volumes led to outages at some firms.

Thorsten Pötzsch, chief executive director of securities supervision/asset management at Germany’s Federal Financial Supervisory Authority (BaFin), has provided

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