| Frankfurter Wertpapierbörse | |
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| Type | Stock exchange |
|---|---|
| Location | Frankfurt, Hesse, Germany |
| Coordinates | 50°06′55″N8°40′40″E / 50.11528°N 8.67778°E /50.11528; 8.67778 |
| Founded | 1585; 440 years ago (1585) |
| Owner | Deutsche Börse, Börse Frankfurt Zertifikate AG |
| Currency | Euro |
| Market cap | US$2.37 trillion(March 2023)[1] |
| Website | www.boerse-frankfurt.de |
TheFrankfurt Stock Exchange (German:Börse Frankfurt, former German name:Frankfurter Wertpapierbörse,FWB) is the world's 3rd oldest and 12th largeststock exchange bymarket capitalization.[2] It has operations from 8:00 am to 10:00 pm (German time).[3]
Located inFrankfurt, Germany, the Frankfurt Stock Exchange is owned and operated byDeutsche Börse AG and Börse Frankfurt Zertifikate AG. It is located in the district ofInnenstadt and within the central business district known asBankenviertel.[2]
With 90 percent of its turnover generated in Germany, namely at the two trading venuesXetra and Börse Frankfurt, the Frankfurt Stock Exchange is the largest of the seven regional securities exchanges in Germany.[2]
The trading indices areDAX, DAXplus,CDAX, DivDAX, LDAX,MDAX,SDAX,TecDAX,VDAX andEuroStoxx 50.[4]
Through itsDeutsche Börse Cash Market business section,Deutsche Börse AG now operates two trading venues at the Frankfurt Stock Exchange.
Trading at the Frankfurt Stock Exchange is governed by clear rules, which apply equally for all trading participants. Independent market surveillance is made up of the Trading Surveillance Office (HÜSt), the Exchange Supervisory Authority attached to the Hessian Ministry of Economic Affairs, Transportation, and Regional Development, and the Federal Financial Supervisory Authority (BaFin).Xetra (trading system)
With a view to improving the continuity of prices and to avoid mistrades, several protective mechanisms are in place for the trading venuesXetra andBörse Frankfurt. These include volatility interruption, market order interruption, and liquidity interruption measures.Xetra (trading system)
The origins of the Frankfurt Stock Exchange go back to medieval trade fairs in the 11th century.[6] By the 16th century Frankfurt developed into a wealthy and busy city with an economy based on trade and financial services.[citation needed]
In 1585 a bourse was established to set up fixed currencyexchange rates, which is considered to mark the 'birth' of the stock exchange.[6] In the following centuries Frankfurt developed into one of the world's first stock exchanges – next toAmsterdam,London andParis. Bankers likeMayer Amschel Rothschild andMax Warburg had substantial influence on Frankfurt's financial trade.
In 1879, the Frankfurt Stock Exchange moved into its new building at Börsenplatz.[7] During the final third of the 19th century, Frankfurt was a major financial center in the Atlantic world.[8]
It was only in 1949 afterWorld War II that the Frankfurt Stock Exchange finally established as the leadingstock exchange in Germany with consequently incoming national and international investments.
During the 1990s the Frankfurt Stock Exchange was also bourse for theNeuer Markt (New Market) as part of the worldwide dot-com boom.
In 1993 theFrankfurter Wertpapierbörse (Frankfurt Stock Exchange) became Deutsche Börse AG, operating businesses for the exchange.[citation needed]
From the early 1960s onwards the Frankfurt Stock Exchange took advantage of the close byBundesbank which effectively decided on financial policies in Europe until the introduction of theeuro in 2002. Since then the exchange profits from the presence of theEuropean Central Bank in Frankfurt.[citation needed]
In 2002 and 2004Deutsche Börse was in advanced negotiations to take overLondon Stock Exchange, which were broken off in 2005.[9] A further merger bid was blocked by the European Commission in 2017.[10]
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