Deutsche Boerse expels Wirecard from Germany’s blue-chip index DAX

FRANKFURT (Reuters) – Exchange operator Deutsche Boerse will remove Wirecard , the payments company that folded after an accounting scandal, from the DAX index of Germany’s leading blue-chip stocks this month following an index rule change.

The exchange operator on Wednesday said it had opted for new rules – which were proposed last month – to allow for a quick DAX removal in the case of an insolvency.

It said the new composition of the DAX would be published on Aug. 19 at 2000 GMT and take effect after market close on Aug. 21, effectively making it Wirecard’s last day in the index.

(Reporting by Ludwig Burger and Hans Seidenstuecker; editing by Jonathan Oatis)