The Wiener Börse AG (also known as the Vienna Stock Exchange) is a bourse situated in

Vienna Vienna ( ; ; ) is the capital city, capital, List of largest cities in Austria, most populous city, and one of Federal states of Austria, nine federal states of Austria. It is Austria's primate city, with just over two million inhabitants. ...

Austria Austria, formally the Republic of Austria, is a landlocked country in Central Europe, lying in the Eastern Alps. It is a federation of nine Federal states of Austria, states, of which the capital Vienna is the List of largest cities in Aust ...

. The exchange owns and operates the

Prague Stock Exchange Prague Stock Exchange (PSE; ) is the largest and oldest securities market organizer in the Czech Republic. It is a 99.54 percent-owned subsidiary of Wiener Börse AG. PSE and its subsidiaries comprise the PX group. In addition to the Stock Exch ...

, and holds stakes in energy exchanges and clearing houses. It provides market infrastructure to other exchanges in Central, Eastern, and

Southeastern Europe Southeast Europe or Southeastern Europe is a geographical sub-region of Europe, consisting primarily of the region of the Balkans, as well as adjacent regions and Archipelago, archipelagos. There are overlapping and conflicting definitions of t ...

(

Budapest Budapest is the Capital city, capital and List of cities and towns of Hungary, most populous city of Hungary. It is the List of cities in the European Union by population within city limits, tenth-largest city in the European Union by popul ...

Zagreb Zagreb ( ) is the capital (political), capital and List of cities and towns in Croatia#List of cities and towns, largest city of Croatia. It is in the Northern Croatia, north of the country, along the Sava river, at the southern slopes of the ...

, and

Ljubljana {{Infobox settlement , name = Ljubljana , official_name = , settlement_type = Capital city , image_skyline = {{multiple image , border = infobox , perrow = 1/2/2/1 , total_widt ...

), and collects and distributes

stock Stocks (also capital stock, or sometimes interchangeably, shares) consist of all the Share (finance), shares by which ownership of a corporation or company is divided. A single share of the stock means fractional ownership of the corporatio ...

market data and calculates the most important indices of the region. The Austrian Traded Index (ATX), the leading index of Wiener Börse, tracks the price of its blue chips in real time. The ATX composition is updated every March and September, mainly based on a stock's

capitalized Capitalization ( North American spelling; also British spelling in Oxford) or capitalisation (Commonwealth English; all other meanings) is writing a word with its first letter as a capital letter (uppercase letter) and the remaining letters in ...

free float In the context of stock markets, the public float or free float represents the portion of Share (finance), shares of a corporation that are in the hands of public investors as opposed to locked-in shares held by promoters, company officers, control ...

and trading volumes. The Vienna Stock Exchange also maintains a market for

fixed income Fixed income refers to any type of investment under which the borrower or issuer is obliged to make payments of a fixed amount on a fixed schedule. For example, the borrower may have to pay interest at a fixed rate once a year and repay the pr ...

securities A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any for ...

, with more than 13,000 active bonds from 38 countries and a total volume of €720bn as at May 2023.

Market structure

The Vienna Stock Exchange operates two markets: the Official Market and the Vienna MTF, a

multilateral trading facility A multilateral trading facility (MTF) is a European Union regulatory term for a self-regulated financial trading venue. These are alternatives to the traditional stock exchanges where a market is made in securities, typically using electronic ...

. The Official Market is the main regulated market operated by the Vienna Stock Exchange. An

issuer Issuer is a legal entity that develops, registers, and sells securities for the purpose of financing its operations. Issuers may be governments, corporations, or investment trusts. Issuers are legally responsible for the obligations of the issue ...

listing securities in the Official Market must adhere to the requirements of the Austrian Stock Exchange Act. The listing application must be submitted in writing and also must also be signed by one member of the Vienna Stock Exchange. The application must include an excerpt not older than four weeks from the Austrian Business Register or

equivalent Equivalence or Equivalent may refer to: Arts and entertainment *Album-equivalent unit, a measurement unit in the music industry *Equivalence class (music) *'' Equivalent VIII'', or ''The Bricks'', a minimalist sculpture by Carl Andre *'' Equiva ...

in the case of a foreign issuer, a listing prospectus drawn in line with EU prospectus regulations, a current version of the issuer's

articles of association In corporate governance, a company's articles of association (AoA, called articles of incorporation in some jurisdictions) is a document that, along with the memorandum of association (where applicable), forms the company's constitution. The ...

or equivalent and at least one set of current

audit An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon." Auditing al ...

financial statement Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to un ...

s. The requirements of the Austrian Stock Exchange Act regarding the listing of securities in the Official Market and the accompanying obligations of issuers do not apply to financial instruments included in trading in the Vienna MTF. As such, the Vienna MTF is customarily used by foreign issuers of corporate bonds, small and medium-sized enterprises (SME) issuing equity and expanding young companies. Although the requirements on issuers of securities traded in the Vienna MTF are lower, issuers still must comply with EU market abuse regulations, which were transposed into Austrian law through the Austrian Stock Exchange Act.

History

Wiener Börse is one of the world's oldest exchanges and was founded in 1771 during the reign of

Empress The word ''emperor'' (from , via ) can mean the male ruler of an empire. ''Empress'', the female equivalent, may indicate an emperor's wife (empress consort), mother/grandmother (empress dowager/grand empress dowager), or a woman who rules ...

Maria Theresa of Austria Maria Theresa (Maria Theresia Walburga Amalia Christina; 13 May 1717 – 29 November 1780) was the ruler of the Habsburg monarchy from 1740 until her death in 1780, and the only woman to hold the position in her own right. She was the sovereig ...

in order to provide a market for state issued bonds. She tried to rein in the illegal trade that took place in coffeeshops during that time. On 9 May 1873, the stock exchange crashed spectacularly ("Der Krach"), signalling the start of the

Long Depression The Long Depression was a worldwide price and economic recession, beginning in Panic of 1873, 1873 and running either through March 1879, or 1899, depending on the metrics used. It was most severe in Europe and the United States, which had been e ...

. In 1985,

Jim Rogers James Beeland Rogers Jr. (born October 19, 1942) is an American investor and financial commentator based in Singapore. He is the chairman of Beeland Interests, Inc. He was the co-founder of the Quantum Fund and Soros Fund Management. He was a ...

triggered a bull market when he said the Austrian capital market had high potential. He has been notable for his contributions to the Austrian stock market. In 2008, the Wiener Börse agreed to buy the Prague Stock Exchange for an undisclosed amount. In the same year, the börse bought an 81% stake in Ljubljana Stock Exchange (''Ljubljanske burze''). In 2010, ATVP, the Slovene market regulator restricted the Wiener Börse's voting rights. The rights would be restored only by either purchasing full ownership or no more than 25% stake. The case was taken to the Slovene Supreme Court which upheld the ATVP ruling. The Wiener Börse bought the remaining shares. In 2015, the Wiener Börse sold the Ljubljana Stock Exchange to the Zagreb Stock Exchange (''Zagrebačka burza''). In 2019, it opened a multilateral trading facility (the exchange-regulated "Vienna MTF"), a

third market In finance, third market is the trading of exchange-listed securities in the over-the-counter (OTC) market. These trades allow institutional investors to trade blocks of securities directly, rather than through an exchange, providing liquidity a ...

for

over-the-counter Over-the-counter (OTC) drugs are medicines sold directly to a consumer without a requirement for a prescription from a healthcare professional, as opposed to prescription drugs, which may be supplied only to consumers possessing a valid pres ...

transactions. In 2020, the Wiener Börse listed for the first time products denominated in the cryptocurrencies

Bitcoin Bitcoin (abbreviation: BTC; Currency symbol, sign: ₿) is the first Decentralized application, decentralized cryptocurrency. Based on a free-market ideology, bitcoin was invented in 2008 when an unknown entity published a white paper under ...

and

Ethereum Ethereum is a decentralized blockchain with smart contract functionality. Ether (abbreviation: ETH) is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. It is open-s ...

, making real-time prices available for trading between 9:15 am - 5:30 pm. In 2023 the company formed EuroCTP as a joint venture with 13 other bourses, in an effort to provide a consolidated tape for the

European Union The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in Europe. The u ...

, as part of the

Capital Markets Union The Capital Markets Union (CMU) is an economic policy initiative launched by the former president of the European Commission, Jean-Claude Juncker in the initial exposition of his policy agenda on 15 July 2014. The main target was to create a Eur ...

proposed by the

European Commission The European Commission (EC) is the primary Executive (government), executive arm of the European Union (EU). It operates as a cabinet government, with a number of European Commissioner, members of the Commission (directorial system, informall ...

References

External links

Homepage of Vienna Stock Exchange

Vienna Stock Exchange YouTube Channel

Vienna Stock Exchange Market Data
{{DEFAULTSORT:Wiener Borse Financial services companies established in 1771 Companies based in Vienna Financial services companies of Austria Stock exchanges in Europe 1771 establishments in Europe Theophil Hansen buildings 18th-century establishments in Austria

Market structure

History

See also

References

External links