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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…

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,…

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…

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…

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…

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 –…

Going Public Process in which a company raises external equity capital by offering its shares to public investors Going Public is usually considered to be a synonym for initial public…

Global depositary receipt (GDR) Security representing a foreign share Global depository receipts (GDRs), which were developed on the basis of American depositary receipts (ADRs), securitize the ownership in shares. A…

German Stock Corporation Act In law in Germany pertaining to stock corporations (AG) and commercial partnerships limited by shares (KGaA). The German Stock Corporation Act (Aktiengesetz), enacted on 6 September…