The Frankfurt Stock Exchange (FSE) has established itself as one of the most attractive listing venues for companies in Europe. This is not only due to its global investor reach and reputation but is also attributable to a number of advantages it offers to issuers, including the highest liquidity for securities traded in Europe, low costs for going and being public and a well balanced regulatory environment with four different trading segments.
Listing segments on the Frankfurt Stock Exchange
The FSE offers four listing segments tailored to the individual needs of each company:
- the EU-Regulated Market with two trading segments, namely Prime Standard and General Standard; and
- the Exchange-Regulated Market (Open Market) with the Entry Standard and the First Quotation Board as the two trading segments.
Each of these segments offers different transparency levels and listing requirements. The Prime Standard offers the highest level of transparency in Europe and is aimed at large companies seeking international recognition and investors. The General Standard provides the market for minimum EU-regulation and is aimed at mid-sized or large companies seeking a cost efficient listing with manageable ongoing obligations within the EU-Regulated Market.
The Entry Standard segment is the segment with higher transparency rules within the Exchange-Regulated Market, which generally provides for lower listing requirements and ongoing obligations. The Open Market (First Quotation Board) is a trading segment for small companies and provides for the lowest transparency standards and entails the least costs.
On the following pages you can find an overview of the admission requirements and ongoing obligations in the different segments of the FSE.