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The Frankfurt Stock Exchange is one of the largest stock exchanges in the world. It is owned and operated by Deutsche Börse, which also owns the European futures exchange Eurex and the clearing company Clearstream. 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 in 2012, but has opted for a faster transition in the face of increasing competition in European markets. From May 2011, trading will take 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. Trading runs from 09:00 to 17:30 with closing auction from 17:30-17:35. In November 2003, Late DAX was introduced running from 17:45 to 20:00 and in 2006 X-DAX was introduced running from 17:45-22:00 (in line with US trading hours). |
