Deutsche Börse has announced it will close its pan-European trading venue Xetra International Market on 13 December.
In a letter to members, the exchange operator said it would close the market to increase its efficiency.
Xetra International Market was launched in 2009 and Deutsche Börse had targeted a 5% market share in European equities.
However, it has failed to convince investors to use it and has market share of less than 0.01%. Figures from Thomson Reuters Equity Market Share Reporter show it traded turnover was less than €700,000 in August 2013.
From close of business on 13 December, the International Market, which offers trading in about 800 equities, will cease trading. Additionally, the continuous auction with specialist on Xetra, which trades almost 2,000 bonds, will also close.
Securities that only trade on the Xetra International Market will not be tradeable on the Frankfurt Stock Exchange from 16 December 2013, but all other securities will be tradeable.
The International Market had struggled to emulate the success of pan-European trading venue BATS Chi-X, which has the largest market share across Europe. LSE Group has done slight better, with a stake in pan-European multilateral trading facility Turquoise, which has maintained steady market share of between 7-8% in recent months.