General Standard

The General Standard is a stock exchange segment that includes all shares of the legally regulated regulated market listed on the Frankfurt Stock Exchange that do not meet the admission criteria for the Prime Standard . The licensing and follow-up obligations of the regulated market apply.

The General All-Share performance index (ISIN DE000A0S3CV0 , WKN A0S3CV) tracks the performance of this stock market segment.

history

At the end of 2007, 350 companies were listed in the General Standard. In addition, there were 404 companies that were listed in the Prime Standard at the time . In July 2012, 253 companies were listed in the General Standard. By the end of January 2016, the number of companies listed in the General Standard had fallen to 156 (including 142 German and 14 foreign companies).

General Standard vs. Entry Standard

Due to the legal regulations, there are higher transparency requirements in the General Standard than in the Entry Standard . After the implementation of the Transparency Directive Amendment Directive of November 20, 2015, the differences have converged a little:

• Annual reports must be published no later than 4 months after the end of the month (6 months for the Entry Standard)
• Semi-annual reports must be published no later than 3 months after the end of the month (3 months for the Entry Standard)
• No interim reports need to be submitted in either segment
• Ad hoc disclosure requirement (WpHG)
• Disclosure of proprietary transactions by executives (MMVO)
• Communication on reporting thresholds (WpHG)
• Mandatory offer in the event of a change of control
• Entry Standard = EUR 5,000 / year; General Standard = 7,500 EUR / year

There are also higher approval requirements:

• At least 25% of the shares must be in free float
• The company must have existed for at least 3 years
• There is a general obligation to publish a prospectus

While a lead broker must be named for admission to the Entry Standard , this is automatically determined by the stock exchange when admitted to the General and Prime Standard.

See also

• Open market
• Organized market

Web links

• General Standard (Deutsche Börse)
• Shares in the General Standard (Ariva)

Individual evidence

1. ↑ Page no longer available , search in web archives: Facts and Figures - December 31, 2007 (PDF; 120 kB)
2. ↑ Companies listed in Prime Standard, General Standard and Entry Standard
3. ↑ Transparency requirements in the General Standard (page 6) ( Memento of the original dated December 6, 2008 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.