The Frankfurt Stock Exchange (German: Frankfurter Wertpapierbörse, FWB) is the world's 10th largest stock exchange by market capitalization. Located in Frankfurt am Main, Germany, the Frankfurt Stock Exchange is owned and operated by Deutsche Börse (FWB: DB1), which also owns the European futures exchange Eurex and the clearing company Clearstream. It is located in the district of Innenstadt and within the central business district known as the Bankenviertel.
The Frankfurt Stock Exchange accounts for over 90 percent of the turnover in the German market and a very large share of the European market. In 2010, the Frankfurt Stock Exchange agreed to move to abolish floor trading and completed this transition in May 2011. Today, trading takes place exclusively via the Xetra system, with redundant floor brokers taking on the role of market-makers on the new platform.
More than 14 international exchanges have adopted Xetra (including the Vienna Stock Exchange in 1999, the Irish Stock Exchange in 2000 and the Budapest Stock Exchange in 2003). Approximately 47% of the 300 market participants in Frankfurt come from abroad. As of November, 2010, companies from more than 80 countries list on the Frankfurt Stock Exchange with 49% from North and South America, 31% from Europe (including Russia), 14% from Asia and 6% from Australia and Africa.
The Frankfurt Stock Exchange has more than 250 international trading institutions and more than 4,500 traders. Investors directly connected to the Frankfurt Stock Exchange represent 35% of the world's investment capital.
The trading indices in Frankfurt are DAX, DAXplus, CDAX, DivDAX, LDAX, MDAX, SDAX, TecDAX, VDAX and EuroStoxx 50.
Automatic Xetra trading runs from 09:00 to 17:30 with closing auction from 17:30-17:35, floor brokers' trading times are from 8:00 to 20:00. In November 2003, Late/Early DAX was introduced running from 08:00 to 09:00 pre market and 17:45-20:01 during after hours and in 2006 X-DAX was introduced running from 08:00-09:01 and 17:45-22:00 (in line with Asia and US trading hours).
Read more about Frankfurt Stock Exchange: History
Famous quotes containing the words stock and/or exchange:
“I met a Californian who would
Talk California—a state so blessed
He said, in climate, none had ever died there
A natural death, and Vigilance Committees
Had had to organize to stock the graveyards
And vindicate the state’s humanity.”
—Robert Frost (1874–1963)
“I cannot say what poetry is; I know that our sufferings and our concentrated joy, our states of plunging far and dark and turning to come back to the world—so that the moment of intense turning seems still and universal—all are here, in a music like the music of our time, like the hero and like the anonymous forgotten; and there is an exchange here in which our lives are met, and created.”
—Muriel Rukeyser (1913–1980)