Frankfurt Stock Exchange
|Frankfurt Stock Exchange
|legal form||Dependent institution under public law|
Frankfurt am Main Germany
The Frankfurt Stock Exchange ( market identification code XFRA) is an on- exchange trading platform of the Frankfurt Stock Exchange (FWB) for private investors. FWB also operates the Xetra electronic trading platform , which is designed for professional trading. With Xetra, it is one of the largest stock exchanges in the world. Their market share in securities trading in Germany is given as 90 percent. The Frankfurt Stock Exchange is run by Deutsche Börse AG and Börse Frankfurt Certificates AG.
On the Frankfurt Stock Exchange, continuous auctions are traded Monday to Friday from 8 a.m. to 8 p.m. CET / CEST . The trading hours for so-called structured products (8:00 a.m. to 10:00 p.m.) and bonds (8:00 a.m. to 5:30 p.m.) are different. Trading on Xetra takes place Monday to Friday from 9:00 a.m. to 5:30 p.m. CET.
History of the Frankfurt Stock Exchange
Old and New Exchange
→ For the history of the Frankfurt stock exchange up to the construction of the Neue Börse, see: Alte Börse (Frankfurt am Main)
Since 1843, after having been rented for almost a century and a half in the Braunfels building on Liebfrauenberg , the Frankfurt Stock Exchange had its own stock exchange building for the first time.
At that time hardly anyone suspected how fast Frankfurt would soon grow ( urbanization , demography of Germany ) and how quickly the importance of stock exchange trading would soon grow. After the founding of the empire in 1871, there was an economic upswing in Germany (see founding years ) and very rapid industrialization. The building of the old stock exchange appeared clearly undersized.
It soon became clear that a new building would be built in the northwest of the Neustadt, on the area of the early modern facilities of the Rahmhof and Taubenhof , which, like numerous houses, had to make way for the openings in the surrounding streets. In 1879, the New Stock Exchange designed by the Frankfurt architects Heinrich Burnitz and Oskar Sommer was inaugurated.
During the First World War , trading in foreign securities was gradually stopped. The good international contacts of the Frankfurt Stock Exchange suffered as a result. During the inflation (1914–1923) the purchasing power of securities that expressed a monetary value plummeted. In contrast, stocks became a much sought-after object of speculation.
During the time of National Socialism , the Nazi regime severely hindered the free market. According to the will of the rulers, the capital of the investors should largely benefit the armament of the armed forces or later the war economy and could therefore no longer be invested in larger bonds or stocks. The Reich Ministry of Economics and the Reichsbank were important organs of Nazi policy.
Nevertheless, a certain amount of stock exchange trading continued. During the air raids on Frankfurt am Main (the Frankfurt stock exchange building was badly damaged in March 1944) brokers traded in the stock exchange's basement rooms. After the Wehrmacht surrendered, the stock exchange was initially closed; on September 14, 1945, it was able to reopen as the first German stock exchange.
After the currency reform in 1948 and with the German economic miracle , the Frankfurt Stock Exchange rose again in international validity. With the permission to trade foreign securities in 1956, the stock exchange was able to take the top position in Germany again. The Frankfurt Stock Exchange accompanied the so-called economic miracle in Germany in the 1950s and 1960s and, according to its own statements, had an important function as a capital broker for the reconstruction of the country.
In 1969 the stock exchange began to process parts of its database electronically. In 1988 the DAX share index was introduced.
From October 2006 to February 2007 the trading floor of the Frankfurt Stock Exchange was restored and optically and technically renewed. The previously rectangular barriers are now round. Two separate workplaces were set up under the well-known DAX board for IPOs. A new light ceiling was installed. The price display ("DAX board") was retained because of its recognition value.
The conversion took place while trading continued. The television stations reported from the other rooms, mainly the former pension hall. The visitor gallery was open during the work, but only allowed a limited view of the construction site. After four months of construction, the trading hall was reopened on February 26, 2007.
End of trading on the floor
In May 2011, has been trading floor of the Frankfurt Stock Exchange after 425 years and applied to the electronic trading platform as of 23 May 2011 Xetra transmitted. The activities of the previous lead brokers were taken over by computers, and the former exchange brokers became so-called specialists who control the trading system and, if necessary, provide liquidity. There are ten specialists, as of 2018, registered on the Frankfurt Stock Exchange.
Several television companies report live several times a day from the trading room of the Frankfurt Stock Exchange. The Telebörse was the pioneer of detailed live reporting from 1987 on with Sat.1 , today with n-tv . In addition, the ARD is represented by the Hessischer Rundfunk . Among other things, the program Börse vor Acht will be produced, which will be broadcast shortly before the main edition of the Tagesschau in Erste . The television stations DAF , Bloomberg Television , ZDF , n-tv, Welt (formerly N24 ), CNBC Europe , Inside Wirtschaft, Handelsblatt and DW-TV also report on the stock exchange.
Market supervision in Germany
The independent market supervision in Germany is made up of the Trading Surveillance Office ( HÜSt ), the stock exchange supervisory authority of the Hessian Ministry of Economics, Transport and Regional Development and the Federal Financial Supervisory Authority ( BaFin ).
- Portal: Economy
- Xontro , Eurex , TecDAX , MDAX , SDAX , DAXglobal Asia Index
- Johann von Bodeck , is considered a co-founder of the Frankfurt Stock Exchange
- Wolf-Christian Setzepfandt : Architecture Guide Frankfurt am Main / Architectural Guide . 3. Edition. Dietrich Reimer Verlag, Berlin 2002, ISBN 3-496-01236-6 , p. 31 (German, English).
- Early newspaper articles on the Frankfurt Stock Exchange in the 20th Century press kit of the ZBW - Leibniz Information Center for Economics .
- The legal form of German stock exchanges, query date: November 21, 2012 (PDF; 97 kB).
- Frankfurt Stock Exchange - My place to trade. Deutsche Börse AG, accessed on December 4, 2017 .
- Deutsche Börse Cash Market: Deutsche Börse Cash Market - Organization of the FWB. Retrieved August 18, 2017 .
- Extension of trading hours on boerse-frankfurt.de accessed on June 25, 2018
- Trading calendar and times. Xetra and Frankfurt Stock Exchange trading venues. Deutsche Börse AG, 2017, accessed on December 4, 2017 .
- Deutsche Börse: History of the FWB - Wars, Shares, Economic Miracles - 20th Century ( Memento of January 29, 2009 in the Internet Archive ) , accessed on October 26, 2008
- Stock exchange floor in new splendor. In: Hessischer Rundfunk . February 26, 2007, archived from the original on October 1, 2007 ; accessed on July 27, 2018 .
- Xetra circular 063/2011 Migration of floor trading as of May 23, 2011 ( Memento of February 9, 2016 in the Internet Archive ) Xetra.com.
- Christian Panster, Christian Schnell: End of an Era - Quiet floor revolution on the Frankfurt Stock Exchange . Ed .: Handelsblatt. May 23, 2011 ( handelsblatt.com [accessed December 4, 2017]).
- Frankfurt Stock Exchange - Specialists. Deutsche Börse AG, 2018, accessed on October 25, 2018 .
- Deutsche Börse Cash Market: Deutsche Börse Cash Market - market supervision. Retrieved August 18, 2017 .