Anybody got any info on TL0 (TESLA DE)?


This stock appeared a few days ago on the platform. I couldn’t find much info on it from Google.

Is anyone able to provide any info on this stock?


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Looks like it’s Tesla listed on the German XETRA. Didn’t know you could get it on there

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Saw that too. Was interesting. It’s not a mirror of the Nasdaq one for sure, but it does follow it’s pattern. Will monitor it

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Ive been monitoring it along with pre market rates for Nasdaq. It looks like a total mirror. So Forex built in. It’s following the Nasdaq

Thanks for the reply.

Agreed, it looks like its a mirror but why does this exist and trading on the European market?


Great question. Maybe part of the stock split strategy to make it more accessible to EU investors?
Bit dubious but I don’t think I’ll complain. A lot of times I wouldn’t buy on Nasdaq cos of the Forex difference. Overnight you could lose 100s even if your average is lower than the sell price.

Tesla on Xetra & Tesla on NASDAQ are 100% the same, it’s just different currency & stock exchange. We’ve added Tesla in EUR denomination in order to eliminate the currency risk for people with EUR accounts.


Thanks @Martin and @Buurbachi


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Does this trade during EU hours or US hours?

it will be the EU hours

I prefer to buy shares sold in £s or EU. Is Tesla only sold in EU and $?

Are the EU and $ versions of Tesla the same shares?

If so, why is it cheaper in EU than it is in $?


It’s not cheaper, as I mentioned above - if your account is in EUR and you trade the security in EUR you’re avoiding the currency risk which may occur if you invest in other instruments in USD.


Can we have this stock fractional in future?
Thank you

Enjoy, It’s fractional :v:


Always wondered, what are the pros/cons to investing in a holding, in different currency, when its primary exchange is closed?

@Richard.W we had this conversation between which currency to invest in USD vs EUR … any thoughts? @Martin is saying the opposite? Thanks for the help to both of you.

I am by no means expert(so might be completely wrong), but for instance if you take BATS and BTI, they don’t trade at same value, CCL as well , there is a bit of premium paid for BTI/CCL on NYSE, so from that perspective I would not say TSLA and TL0 are 1:1, probably one can trade at premium compared to other, naturally there is a link to FX rate if one EUR becomes stronger TSLA becomes cheaper to EU folks vice versa if USD grows TL0 is more attractive.

Also big thing to look at is average volume, which for TL0 is terrible, meaning spread might be wider between bid/ask. So if you plan to trade then Nasdaq version is better, buy and hold then its up to personal preference.

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Personally, I prefer to buy and sell instruments when the primary exchange is open. The liquidity is greater and spread should be less, when the US market is open. So if I wanted to invest in Tesla, I would buy TSLA.

Currency risk exists and is the identical no matter if you buy a share of TL0 or or a share of TLSA. When the US market is open then their prices should move in lock-step so as to keep in the same ratio between prices as the EUR/USD exchange rate. If that were not so then people could make free money by buying one and selling the other. We know that cannot happen.

Right now TL0 is 1725 EUR and TLSA USD CFD is 2039 USD. Notice that
1725/2038 = 0.8460.
The present fx rate of EURUSD = 0.8465, so is essentially the same.

If the USD share price were to stay the same, but the USD were to decline 1% against the EUR, we would expect to see the TL0 price also declining 1%. So there is no greater or less currency risk involved in holding TL0 or TLSA. It just that if you hold TL0 you immediately see the effect in the price. But if you hold TLSA you only see the effect when you sell and convert your USD to EUR. However, the Trading 212 platform always shows you your RESULT after conversion to base currency, so this will always look the same.

I have not really looked into this, but theoretically TL0 might trade for a very small discount at the time the Xetra market closes since it is now looking less liquid than TSLA, and you cannot exit the position over the next 4.5 hours that TSLA continues to trade. On the other hand, when the US market eventually closes a 22:00 CET the TL0 holding has the advantage of letting you get back to trading at an earlier hour of 09:00 CET. I have not looked into whether these effects are significant for the price. Certainly, they can be ignored for a long term investor.


Thatnk you.
Happy trader

Could someone confirm that TL0 split shares will start trading at 9:00 CET on Monday 31st August, i.e. ahead of the TSLA split.

I am assuming T212 will be available on that day, in the UK it is a public holiday.