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Regulated Market As of November 1, 2007, the subdivision of the Official and the Regulated Markets no longer exists. Securities entered into these markets on or since this date are…

Registrar company An outside company that administers shareholders' records for issuers of registered shares. In addition to maintaining the shareholders' record, a registrar company supports issuers in organizing the Annual…

Xetra Electronic cash market trading system Around 320 European banks and securities trading houses currently (January 2004) use the Xetra® (Exchange Electronic Trading) system to trade the full range of…

Listing A security is listed for trading on the exchange. “Listing” means that a security – a stock, bond, etc. – is now available to be traded on a specific…

Market maker Bank or securities trading house that quotes binding buy and sell prices for a security. Market makers guarantee that a security can be traded on an ongoing basis,…

Prospectus Brochure published by the issuer of a security. It contains general information on the company and the placement of the security. An issuing prospectus contains all key information about…

Stock exchange Organized market for securities trading. (Auch: Börsengebäude) Exchange trading takes place at established times, with the exchange itself performing the following main functions: · Bringing together supply and…

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…