Stock exchange listing
A stock exchange listing , stock exchange listing or listing (the latter in particular in Switzerland, from French coter , "to indicate the market value ") is the inclusion of a security in trading on a specific stock exchange or in a stock exchange segment and its price determination by a stockbroker . One also speaks of a listed security. The stock exchange listing is a prerequisite for the public and free trading of a share . The new listing of a company's shares is called an initial public offering , and the first price of a newly listed security is called initial listing . The delisting will exchange outlet or delisting (English delisting ) called.
In Germany, the legal requirements are regulated by the Financial Market Directive Implementation Act. In Switzerland, the conditions associated with listing are set out in the Federal Act on Stock Exchanges and Securities Trading .
Multiple quotations
The shares of large companies are often listed on several stock exchanges, sometimes also abroad, in order to benefit from increased liquidity . For example, Bayer AG shares were listed on the NYSE in New York until 2007 and on the LSE in London until 2011 . As a result of computer trading (see also Xetra ), which usually concentrates market liquidity on the main listing venue, listing on several stock exchanges is much less important than it used to be. Bayer and a number of other European companies withdrew from these stock exchanges for cost reasons.
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Individual evidence
- ↑ Brockhaus Enzyklopädie , 17th edition, 10th volume, p. 545
- ^ Cordula Heldt: listing on the stock exchange. In: Gabler Wirtschaftslexikon. February 19, 2018. Retrieved October 29, 2018 .
- ↑ Stock exchange listing (price determination). In: ARD stock exchange dictionary. Retrieved October 29, 2018 .
- ↑ German corporations are leaving Wall Street. In: The world. September 7, 2007, accessed October 29, 2018 .