Three levels of transparency for listed companies on the Frankfurt Stock Exchange
The transparency standard determines which follow-on obligations the listing of a company entails.
In General Standard, the minimum legal requirements of the EU-regulated Official Market or the Regulated Market apply. Companies listing in either of these markets are automatically included in General Standard. Accordingly, companies listed in General Standard fulfill the follow-on obligations of the Official or Regulated Market.
A listing in Prime Standard requires companies to fulfill international transparency requirements that go beyond those of General Standard. Admission to Prime Standard is a key prerequisite for inclusion in any of the selection indices DAX®, MDAX®, TecDAX® and SDAX®.
Entry Standard, the transparency level of the Open Market (Regulated Unofficial Market), features less follow-on obligations than the standards described above. Thus, Entry Standard affords small and medium-sized companies easy and cost-effective access to the capital market. It is primarily aimed at qualified investors who are aware of potential risks due to less information.
