Market maker Bank or securities trading house that quotes binding buy and sell prices for a security. Market makers guarantee that a security can be traded on an ongoing basis, thereby ensuring the liquidity and viability of the market. Through their readiness to step in as a counterparty at any...

Prospectus Brochure published by the issuer of a security. It contains general information on the company and the placement of the security. An issuing prospectus contains all key information about the security: the issuer, corporate structure, financial situation, business activities, as well as all executive bodies and companies involved in...

Stock exchange Organized market for securities trading. (Auch: Börsengebäude) Exchange trading takes place at established times, with the exchange itself performing the following main functions: · Bringing together supply and demand (market function) · Creating an environment in which companies can raise capital by issuing securities (mobilization function) · Guaranteeing...

Securities exchange In the broader sense of the word, an exchange on which securities or derivatives are traded under the provisions of the Securities Trading Act. In practice, only securities (i. e. stocks, government bonds, mortgage bonds, public-sector bonds, corporate bonds, etc.) are traded on a securities exchange; derivatives trading...

Initial Public Offering (IPO) Process by which a company becomes listed on an exchange A company usually prepares and executes an IPO with the support of an issuing bank, or, in the case of large-scale issues, in conjunction with a syndicate. Companies go public primarily as a means of raising...

Second Quotation Board The First Quotation Board and Second Quotation Board structure the Open Market. All companies whose shares are already listed or included at another international or domestic trading venue and apply for admission to the Open Market are included in the Second Quotation Board. GO PUBLIC ON THE...

First Quotation Board The First Quotation Board and Second Quotation Board structure the Open Market. All companies with an initial listing in Open Market are included in the First Quotation Board. It is directed at domestic and international companies for a cost efficient and fast admission of their shares to...

Filing The submission of admission materials (issuing prospectus) and follow-up mandatory reports (e.g., quarterly reports) to an exchange GO PUBLIC ON THE FRANKFURT STOCK EXCHANGE, CONTACT INFO@FSELISTINGS.COM

Fee schedule of the stock exchange Body of regulations governing fees and the reimbursement of outlays for stock exchange services The stock exchange charges fees for various services, such as the admission of participants or securities to exchange trading, or the listing of securities on the exchange. The fee schedule...

Holding period Period of time during which capital gains from securities transactions are taxable (or subjected to the highest tax rate) The holding period in Germany is twelve months – i.e., capital gains resulting from the purchase or sale of securities held for less than a year are subject to...