Insider DACH — strategy playbook

Mandate ID: dax-mdax-smi-directors Benchmark: SMI Phase: Pre-license research publication (newsletter-grade).

What we replicate

Equal-weight basket of index names where disclosed manager dealings show a purchase (Germany: BaFin «Kauf»; Switzerland: SIX buy indicator). Sales remove a symbol. Sonstiges / other non-directional DE rows are ignored.

Data sources (free / scrape MVP)

Market	Source	URL
DE (DAX, MDAX)	BaFin directors dealings CSV export per ISIN	https://portal.mvp.bafin.de/database/DealingsInfo/sucheForm.do
CH (SMI)	SIX Exchange Regulation management transactions via SER Sheldon API	https://www.ser-ag.com/en/resources/notifications-market-participants/management-transactions.html

Operational notes

Live scrape: set DAX_MDAX_SMI_LIVE_SCRAPE=1 for CLI/cron (rate-limited BaFin requests per ISIN).
Default: fixture constituents + sample BaFin/SIX rows (CI-safe).
Lag: MAR Art. 19 issuer filing + BaFin/SIX processing — often several days; not suitable for intraday trading signals.
Universe file: apps/web/lib/ingest/fixtures/dax-mdax-smi-constituents.json (refresh quarterly with index rebalances).

Ingest commands

pnpm ingest:dax-mdax-smi
DAX_MDAX_SMI_LIVE_SCRAPE=1 pnpm ingest:dax-mdax-smi --apply

Cron: GET /api/cron/ingest-dax-mdax-smi (Bearer CRON_SECRET).

Compliance copy

Research publication only — not investment advice. Disclosed dealings are public but delayed; completeness not guaranteed.