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Market Structure
Deutsche Börse – Europe’s Premier Listing Platform

Deutsche Börse has set itself the goal of enhancing the efficiency of the markets. With customized market structures, it creates the ideal conditions for issuers and investors alike. In this way, Deutsche Börse is able to optimally meet the growing requirements of a highly dynamic, international capital market.

Deutsche Börse organizes one of the most efficient capital markets worldwide. In Europe, there are two points of access to the capital market: access via markets regulated by the EU (EU-regulated markets) and access via markets regulated by the stock exchanges themselves (Regulated Unofficial Markets). At FWB® Frankfurter Wertpapierbörse (the Frankfurt Stock Exchange), a listing on the Regulated Market leads to General Standard or its Prime Standard segment. A listing in Open Market (Regulated Unofficial Market), on the other hand, can lead into the First Quotation Board or Entry Standard.

Companies have the choice between

Issuers in General Standard and Prime Standard fulfil the highest European transparency requirements and gain all the advantages of a full listing. With Entry Standard, the stock exchange is using the scope available to it to create a simple, quick and cost-efficient way for small and medium-sized companies, in particular, to include their shares in exchange trading.

Companies wishing to differentiate themselves and position themselves more clearly within the Open Market may choose to be admitted to Entry Standard. This entry segment might also serve as a stepping stone for a listing in General Standard or Prime Standard later on. 

Since 17 April 2007 the new Listing and Trading Segment Deutsche Börse REITs offers companies with REIT status a first class entry point to the European capital market. 

Indices focus the attention of investors and enhance the attractiveness of issuers. The index world of Deutsche Börse is, therefore, specifically tailored to the needs of investors. DAX®, MDAX®, TecDAX® and SDAX® are the selection indices of Deutsche Börse. They are based exclusively on companies admitted to Prime Standard. Only those companies which meet the additional transparency requirements of Prime Standard and are continuously traded can be included in these indices. For the General Standard Deutsche Börse calculates the General Standard Index; for the Entry Standard segment the Entry Standard Index.

Additional benchmark indices such as the Prime All Share Index, the Entry All Share or the CDAX®, which encompasses all German securities across Prime and General Standard, supplement the index family. In addition, 18 sector indices, which are based on 62 industry groups, differentiate the companies in Prime Standard. An All Share Index, which comprises all securities in Entry Standard, provides companies with additional visibility on the capital market.

In the form of GEX® Deutsche Börse has introduced an index based on a single criterion, namely that the company must be run by its founders or owners. GEX is thus the indicator for the stock-market performance of small and medium-sized enterprises.

Attachments
TitleTypeSize
General Standard and Prime Standard - Access to European Capital Marketspdf637 KB
Entry Standard Brochurepdf645 KB
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