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Transparency Standards - Tailored access to the capital market

With different transparency standards, the stock exchange uses the scope available to it to create tailored legal frameworks for access to the capital market – beyond the market segments regulated by public law. Issuers in General Standard and Prime Standard fulfill the highest European transparency requirements and gain all the advantages of a full listing. In Prime Standard, issuers must fulfill international transparency requirements that go beyond those of General Standard. Entry Standard provides small-to-medium-sized companies, in particular, with an easy, fast and cost-efficient way to include their shares in exchange trading.

Companies which are listed at FWB® Frankfurter Wertpapierbörse (the Frankfurt Stock Exchange) must comply with certain follow-up obligations. The most important of these provisions are listed below. The Securities Trading Act and Issuer Guideline are available on the BaFin website. The Exchange Act can be found on the website of the Exchange Supervisory Authority.

Market Segments by German law – companies have the choice

In Europe, there are two points of access to the capital market: markets regulated by the EU (EU-regulated markets) and markets regulated by the stock exchanges themselves (regulated unofficial markets). At the Frankfurt Stock Exchange, a listing on the Regulated Market leads to the General Standard or its Prime Standard segment, while admission to trading on the Regulated Unofficial Market leads to the Open Market with its Entry Standard segment.