Open market

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Open Market is Deutsche Börse's name for the open market on the Frankfurt Stock Exchange . The Open Market is due to the Privatrechtlichkeit no Organized market and also no (EU) Regulated Market (Engl. Regulated Markets ), but a publicly regulated market (Engl. Regulated Unofficial Market ).

The Quotation Board , Basic Board and Scale subsegments exist within Open Market .

backgrounds

On December 31, 2007, 8,875 companies were listed on the Open Market.

Securities that are listed in the Open Market can in principle be traded both in floor trading via Xontro and in electronic trading via Xetra . This ultimately depends on the will of the issuer. When listing for trading via Xetra, at least one Designated Sponsor is required due to the generally low liquidity , provided that continuous trading is to take place. Alternatively, however, it is also possible to choose the one-auction only procedure , in which, in addition to the opening and closing prices, only a midday price is determined.

Admission procedure and requirements

Before a company in the open market listed , will have to be met in addition to the requirements for participation in each sub-segment (Quotation Board, scale or Basic Board) following additional formalities:

  • The application for admission must be made by an approved trading participant of the Frankfurt Stock Exchange.
  • An International Securities Identification Number (ISIN) must be available or requested in advance.
  • There must be no official trade restrictions.
  • Unless admission abroad already exists, a securities prospectus that is not older than 6 months must be available or an exposé must be prepared.
  • A trading license must be applied for at Deutsche Börse.
  • The declaration of commitment to accept the terms and conditions of Deutsche Börse and to exclude damage must be signed.
  • A lead broker must be named.

There are also one-time costs of 750 euros for admitting the shares.

If a company fulfills the admission requirements, it is automatically admitted to the Frankfurt Stock Exchange for both floor trading and electronic trading via Xetra.

See also

Web links

Individual evidence

  1. ↑ Deutsche Börse Group: FAQ catalog for Open Market / Entry Standard (on the Internet DBAG) . ( PDF; 283 kB Accessed September 21, 2015).
  2. ↑ General Terms and Conditions of Deutsche Börse AG for the Regulated Unofficial Market on the Frankfurt Stock Exchange ( Memento of the original from March 9, 2017 in the Internet Archive ) Info: The @1@ 2Template: Webachiv / IABot / www.xetra.com archive link has been inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , Deutsche Börse AG, March 1, 2017, Section 2 Paragraph 1.
  3. ↑ Page no longer available , search in web archives: facts & figures - Prime Standard & General Standard & Entry Standard (PDF; 120 kB)@1@ 2Template: Toter Link / www1.deutsche-boerse.com
  4. ↑ Trading participant of the FWB