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General Standard and Deutsche Börse Listing:
Welcome to Your Future
Prime Standard
Access to European Capital
Markets
Companies listed in the General Standard and Prime
Standard fulfill the transparency requirements of the
harmonized European capital market and benefit from
advantages of a full listing. The General Standard is
subject to minimum statutory requirements for the EU-
regulated market. Companies in the Prime Standard
meet further international transparency requirements
and especially attract international investors.
General Standard and Prime Standard 3
You are considering going public. Apart from raising
capital and realizing innovations, you are no doubt
expecting more from this move: an enhanced public
profile, faster internationalization, a better competitive
position, increased pulling power as an employer.
Before you are actually listed on the stock exchange,
you will be faced with a range of decisions on or-
ganizational, tax and legal issues with far-reaching
consequences. Precise strategic planning will provide
you with an ideal opportunity to reap the benefits
that an IPO can offer you.
4 General Standard and Prime Standard
A partner that understands you: Deutsche Börse
Group. Our diverse range of markets and standards
offers you customized access to the capital market.
Find out more in a one-on-one meeting with us.
General Standard and Prime Standard 5
Companies Have the Choice
In Europe, companies have two ways of accessing Companies in the General Standard and the Prime
the capital market: Standard fulfill the highest European transparency
requirements and gain all the advantages of a full
EU-regulated markets listing. With the Entry Standard, Deutsche Börse
Markets that are regulated by the stock exchanges has created a simple, fast and cost-efficient way of
themselves (regulated unofficial markets) including shares in exchange trading. It is particularly
suited for small and medium-sized companies. Entry
On the EU-regulated markets, the increasing har- Standard is a market segment to start with and gives
monization on the European capital market means the opportunity of a subsequent listing by a trans-
uniform regulations on the respective national mar- fer to the General Standard or the Prime Standard.
kets. The objectives of the various EU directives and Further details you will find in our brochure “Entry
regulations are clear: they are designed to improve Standard”, which is available free of charge.
market efficiency, enhance investor protection and
ensure fair competition. All domestic and international companies whose
shares are included in exchange trading in the Open
The transparency standards that define the different Market for the first time can benefit from their inclu-
segments play a key role on the capital market. They sion in the First Quotation Board. Here they are
show investors the scope of on-going information subject to less stringent requirements.
available, making investment decisions easier. In
Europe, Deutsche Börse offers the most transparent
capital market.
At Deutsche Börse, entrepreneurs can choose from
four clearly structured transparency standards. An
IPO in the EU-regulated Regulated Market leads to
the General Standard or the Prime Standard, where-
as in the Regulated Unofficial Market (Open Market)
into the Entry Standard or the First Quotation Board.
Four Transparency Levels at FWB® Frankfurter Wertpapierbörse (the Frankfurt Stock Exchange)
Companies have the choice between:
Two ways to access the EU-Regulated Market Regulated Unoffi cial Market
capital market (Regulated Market) (Exchange Regulated Market)
Deutsche Börse Primary Prime Standard Entry Standard
Market Segments
General Standard First Quotation Board
(Open Market)
6 General Standard and Prime Standard
General Standard: Cost-effective Listing in an
EU-Regulated Market
The General Standard is subject to the minimum notifications must be submitted for the 1st and 3rd
statutory requirements for EU-regulated markets. quarter outlining the overall financial situation and
The General Standard regulations are binding for key events of the period under review. The issuer
all companies seeking a cost-effective listing in an also has to publish company news items that could
EU-regulated market. Companies in the General influence the stock market price in ad hoc disclo-
Standard must publish an annual financial report sures. Reaching, exceeding or falling short of report-
within four months after the end of the financial year, ing thresholds must also be disclosed. Companies in
whereby the international accounting standards in this segment can position themselves vis-à-vis both
accordance with IFRS / IAS or US GAAP, Canadian national and international investors.
GAAP, Japanese GAAP must be applied. An interim
report must be published within two months after
the end of the reporting period. Since 2007 interim
Transparency requirements in the General Standard
Key statutory requirements apply to the EU-regulated markets, e.g.:
Annual financial statement and interim report in accordance with Announcement of reporting thresholds (WpHG)
IFRS. For non-EU issuers according to IFRS, US GAAP, Canadian Compulsory offer with change of control (German Securities
GAAP or Japanese GAAP Acquisition and Takeover Act / Wertpapiererwerbs- und Über-
Publication of directors’ dealings (German Securities Trading Act / nahmegesetz, WpÜG)
Wertpapierhandelsgesetz, WpHG) Publications can be made in German or English
Ad hoc disclosures (WpHG) Interim reports for Q1 and Q3
General Standard and Prime Standard 7
Prime Standard: Europe’s Highest Transparency
Standards
Above and beyond the requirements for the General and to maintain a corporate action timetable on the
Standard, the Prime Standard requires companies to Internet. Furthermore, Prime Standard companies
meet international transparency requirements. This is must report in both German and English and must
because the Prime Standard is tailored to the needs hold at least one analyst conference per year.
of companies wishing to position themselves to at-
tract especially international investors. It offers inves-
tors the highest transparency standards in Europe.
Companies in the Prime Standard have to fulfill ad-
ditional transparency obligations as compared to the
companies in the General Standard. For example,
they are also required to prepare quarterly reports
Transparency requirements in the Prime Standard
In addition to the General Standard transparency regulations (acc. Exchange Rules for the Frankfurter Wertpapierbörse, FWB®):
Quarterly reports in German and English (non-German companies Publication of a current corporate action timetable on the Internet
can apply to publish quarterly reports in English only) At least one analyst conference per year
Reporting also in English
8 General Standard and Prime Standard
Simple and Fast Listing
The company files the application for admission
to the exchange together with a bank or financial
services institution that is approved for trading on a
German exchange. The company may file the appli-
cation alone, in the same way as an application for
admission to the Prime Standard, provided that the
shares have already been admitted to the General
Standard.
Application documents to be submitted:
Listing application (signed by the company and lead manager) Report on the company’s formation (if it has existed less than
A prospectus approved or attested by the Federal Financial three years)
Supervisory Authority (BaFin), which must be published before Evidence of the resolutions relating to the IPO, e.g. minutes of
the admission resolution (in the first instance a preliminary the Annual General Meeting, resolution of the Executive and
prospectus is suffi cient for an application) Supervisory Board
Current articles of association (certifi ed) In case of individual securitization: specimens; for global securiti-
Current certifi ed extract from the commercial register zation: copy of the global certifi cate
The admission procedure can be initiated at the same
time as the prospectus approval procedure by BaFin,
so that the admission resolution can be made on the
same day on which the prospectus is approved and
published (on the Internet). An application form for ad-
mission to the General Standard and Prime Standard
can be found here:
www.deutsche-boerse.com > Listing > Going Public
> Application Forms
General Standard and Prime Standard 9
EADS
“EADS is listed in Paris, Frankfurt and Madrid. We appreciate the decision
of the Deutsche Börse to open the DAX membership for international com-
panies with a strong footprint in Germany. Our goal now, is to become a
DAX member as a truly European company.”
Hans Peter Ring, Chief Financial Officer, EADS
EADS is a global leader in aerospace, defence and Company name EADS
related services. In 2006, EADS generated revenues Sector Aerospace & Defence
of € 39.4 billion and employed a workforce of about Country Netherlands
116,000. The EADS Group includes the aircraft Index member of DAX International 100,
manufacturer Airbus, the world‘s largest helicopter DAXsector Industrial,
supplier Eurocopter and the joint venture MBDA, the DAXplus Export Strategy,
international leader in missile systems. EADS is the HDAX, MDAX,
major partner in the Eurofighter consortium, is the Midcap Market Index,
prime contractor for the Ariane launcher, develops Classic All Share,
the A400M military transport aircraft and is one of Prime All Share
the largest industrial partners for the European satel- Admission Date July 1, 2000
lite navigation system Galileo.
10 General Standard and Prime Standard
SAP
“ A listing in Frankfurt gives SAP access to one of the world’s most liquid,
transparent, and efficient capital markets. Via its modern trading and
clearing systems, SAP gains access to a growing number of investors
globally.”
Dr. Werner Brandt, Chief Financial Officer, SAP AG
SAP is the world’s leading provider of business Company name SAP AG
software. Today, more than 34,600 customers Sector Software / IT Solutions
in more than 120 countries run SAP applications Country Germany
– from distinct solutions addressing the needs of Index member of DAX, CDAX, HDAX,
small and midsize enterprises to suite offerings for DAXsector Software,
global organizations. With subsidiaries in more than Prime All Share
50 countries, the company is listed on several ex- Admission Date November 4, 1988
changes, including the Frankfurt Stock Exchange and
NYSE under the symbol “SAP”. Powered by the SAP
NetWeaver platform to drive innovation and enable
business change, SAP software helps enterprises of
all sizes around the world improve customer rela-
tionships, enhance partner collaboration and create
efficiencies across their supply chains and busi-
ness operations. SAP solution portfolios support the
unique business processes of more than 25 indus-
tries, including high tech, retail, financial services,
healthcare and the public sector. (Additional informa-
tion at www.sap.com)
General Standard and Prime Standard 11
Attractive for Companies and Investors
An IPO in the EU-regulated statutory segment Regu- Due to Deutsche Börse’s high transparency require-
lated Market leads to the General Standard or to the ments, investors are provided with comprehensive,
Prime Standard. Irrespective of the segment that you up-to-date information, reducing the transmission
choose for your company, Deutsche Börse offers you costs between companies and the capital market.
the fastest admission process in the world.
Main advantages of a General Standard listing
Fulfillment of the minimum requirements for EU-regulated markets Effi cient trading with access to national and international investors
Fastest listing process in the world High liquidity for equities trading
Deutsche Börse’s going and being public services General Standard Index
Main advantages of a Prime Standard listing
Highest transparency standards in Europa Increased visibility on the capital market via sector and selection
Fastest listing process in the world indices (e.g. DAX®, MDAX®, SDAX® or TecDAX®)
Effi cient trading focusing on national and international investors Deutsche Börse’s going and being public services
High liquidity for equities trading
SPAC Applicants must provide evidence for the presence
Special Purpose Acquisition Corporations (SPACs) can of prerequisites, whereby the detailed reference to the
be listed in all Deutsche Börse segments as well as corresponding statements in the prospect can also
traded by investors from all over the world via Xetra® be accepted as a proof.
like any other shares. While filing an application for
admission, the following points of the typical structure Indirect listing via SPAC
of a SPAC must be defined with it: Already listed SPAC offers companies an alternative
to the classical IPO route. Since SPAC’s main objec-
Capital structure and capital spending tive is to take over and subsequently merge with an
– Payment of IPO-revenues into an interest-bearing already operating company or its parts within a fi xed
trust account period of time with the proceeds of an IPO. Estab-
– Detailed description of an intended purpose in lished companies with great growth potential looking
the prospect for secure transactions and time- and cost-effi cient
– Time limitation of the SPAC with obligation of alternatives to classical going public route are mostly
repayment of trust assets in case of liquidation in the focus of this capital market instrument.
Investor friendly governance
– Shareholder meeting takes a decision on
spending of trust assets for company takeovers
– Majority prerequisite > 50 percent for decision
about spending
12 General Standard and Prime Standard
Admission to trading marks an important milestone
in the history of your company: gaining access to
the capital market. You can now benefit from the
core functions of the stock market as a trading
platform and a mechanism for price determination.
From now on you have an additional product, which
you should manage just as carefully as your other
products – your own shares.
General Standard and Prime Standard 13
Advice and Expertise: Deutsche Börse
Listing Partners
Companies planning an IPO or flotation need the IPO and corporate finance advice
expertise of a competent advisor to help them tackle Investment banking
a whole range of new tasks and to implement their Designated sponsoring and research
corporate objectives in a professional manner. At Investor relations and public relations advice
the end of the day, the success of the IPO will have Legal advice
a significant impact on the future of the company. Tax advice and accounting
External expertise ensures that you pursue an issue
strategy that is tailored precisely to your individual The Deutsche Börse Listing Partner status is awarded
needs. Deutsche Börse Listing Partners provide sup- to independent services providers who have demon-
port for companies before, during and after flotation. strated the appropriate qualification by proving their
expertise and providing references.
In the General Standard and Prime Standard,
companies may decide whether or not to employ Companies can find profiles of current Deutsche
a Deutsche Börse Listing Partner ®. In the Entry Börse Listing Partners on the Internet at
Standard it is compulsory to mandate at least one www.deutsche-boerse.com > Listing > Listing Partner
Deutsche Börse Listing Partner.
Listed companies who have already made the leap
on to the stock exchange can also rely on the exper-
tise of specialist service providers when it comes to
the multitude of requirements related to their public
status. Professional communication enhances the
profile of listed companies among investors and in
the media in the long term. Moreover, a number of
subsequent statutory requirements must be met once
a company is listed, and the expertise of specialist
services providers can help ensure you achieve this.
Deutsche Börse Listing Partners give aspiring IPO
candidates and listed companies simple and clear
access to selected capital market specialists from
all areas of going and being public:
14 General Standard and Prime Standard
Maximum Liquidity
Deutsche Börse ensures high liquidity and a highly Designated Sponsors in Xetra
efficient market organization Shares in one of the selection indices of Deutsche
With Xetra®, Deutsche Börse operates one of the Börse must be continuously tradable. The underlying
world’s most powerful, fully integrated stock ex- criterion is the liquidity of the security. Designated
change trading systems. Buy and sell orders are Sponsors secure higher liquidity by quoting binding
matched in the central, electronic Xetra order book. prices for buying and selling the shares. The prob-
National and international investors have access to ability that placed orders are executed increases con-
the securities listed on Deutsche Börse via trading siderably. Based on the principle “liquidity attracts
screens of more than 4,700 registered traders at liquidity”, actively supported shares are more popular
around 248 participants in 18 countries, including with investors.
all of the major banks and brokerage firms. All in all,
over 9,000 equities, including numerous European, For more information please visit:
eastern European, Asian and US blue chips, are trad- www.deutsche-boerse.com > Listing > Being Public
able at any time. > Products and Services > Designated Sponsors
High liquidity, i.e. the permanent opportunity to
make a cost-effective equity purchase or sale, is not Xetra platform – pan-European network of 248 members in 18
only an advantage for investors taking investment countries
decisions. It is also important for the fair valuation
Sweden (3)
of companies with respect to subsequent capital
increases to finance their growth.
Ireland (3)
Companies have a number of opportunities to boost United Kingdom (41)
the liquidity of their shares even when they go public Netherlands (18)
or when their shares are admitted to trading. In Belgium (3) Germany (121)
Luxembourg (2)
principle, the higher the number of shares that are Czech Republic (2)
France (12)
freely tradable on the stock exchange, the higher the
Austria (15)
liquidity. This free float can be managed in a targeted
Switzerland (10)
manner, i.e. by placing as many shares as possible Hungary (4)
with the public as part of the initial issue or further
Spain (4) Italy (5)
capital measures.
Greece (1)
Gibraltar (2) Cyprus (1)
Dubai (1)
General Standard and Prime Standard 15
One-Stop Trading and Settlement for Your Shares
Access to investors worldwide Your shares are in good hands with us
Deutsche Börse organizes one of the most inter- Powerful stock exchanges need powerful settlement
national equity markets – at optimum conditions organizations. Shares, bonds and funds with a value
for companies, investors and trading participants. of over €10.8 trillion are held in the accounts at
Securities are traded on two platforms: on the Clearstream International, a Deutsche Börse subsid-
fully electronic Xetra® trading platform and in floor iary. Nowadays, most securities are no longer physi-
trading. Both platforms offer efficient trading and cally transported and held for safekeeping, but are
maximum liquidity. Xetra gives companies access recorded as information in electronic storage media.
to a global investor network. Over 70 percent of the
Xetra trading volume originates from international Experience the IPO live: “Xetra start”
investors outside of Germany; around 23 percent For many companies their IPO on the Frankfurt Stock
of Xetra’s investor base comes from the US. Exchange is a high point in their history. Now you
can also experience the stock market atmosphere at
Speed, transparency and cost efficiency – the the initial price determination in broker-based floor
decisive benefits of Xetra trading during an IPO on Xetra. Using the new Xetra
The system processes over 1.5 million orders per IPO visualization tool “Xetra start”, you can reach a
day. In October 2008 it achieved the highest value broad global public on the stock market launch date.
of 1.8 million trades. Due to automation the transac- The initial pricing for your shares will be broadcasted
tion costs linked to orders are reduced significantly. worldwide on your website and that of Deutsche Börse.
Xetra also allows users to access the order book,
where bids and offers are displayed in real time
for each tradable security. The “open order book” International investor base on Xetra (2008)
makes the market completely transparent provid-
ing all participants with the same fair conditions Switzerland 1%
of trading. Other countries 3%
Netherlands 5%
France 15% 28% Germany
The prices for over 300,000 securities are calculated
in intermediary-based trading on the trading floor.
Each security is supervised by a lead manager who USA 23%
compares supply and demand in order to determine 25% United Kingdom
the stock exchange price. The trading floor is also
supported by computers: orders are sent electroni-
cally directly from the bank to the stock exchange
and thus straight into the lead managers’ order book
via electronic order routing system Xontro.
16 General Standard and Prime Standard
High Visibility on the Capital Market and Investor
Attention – Deutsche Börse Indices
Deutsche Börse calculates and disseminates more To provide a platform for visibility for all national and
than 2,000 indices making it one of the world’s larg- international companies listed in Frankfurt, Deutsche
est index providers. Our share prices, indices and cap- Börse calculates international indices with portfolios
ital market data make trading activity transparent and of 100 national and international companies each.
increase your company’s visibility among investors. DAX® International 100 contains the 100 most liquid
national and international shares from the Prime
An IPO means that companies gain a new client Standard, General Standard and Entry Standard.
group: investors. In general, these clients have a Index inclusion depends on the shares’ liquidity.
virtually indiscernible number of global investments DAX® International Mid 100 contains the 100 next
at their fingertips. This is why it is all the more im- most liquid national and international stocks from
portant that companies make a name for themselves, the Prime Standard, General Standard and Entry
achieve a visible positioning on the capital market Standard immediately following those included in
and, as a result, attract investor attention. Indices the DAX International 100. Companies are admitted
rank among the main instruments used to give com- to the index independent of their country of origin.
panies visibility on the capital market. As a result,
the indices offered by Deutsche Börse are tailored All Share indices
to the needs of investors. In addition to the selection indices, Deutsche Börse
– Market Data & Analytics offers a range of all share
Selection indices indices. Unlike the selection indices, these indices
DAX®, MDAX®, TecDAX® and SDAX® are Deutsche are more comprehensively designed and are tailored
Börse’s selection indices and are based exclusively in particular to the needs of investment companies
on companies in the Prime Standard. Companies can that want to use them to measure the investment
only be admitted to these indices if they meet the performance of their portfolios against the perfor-
additional transparency requirements of the Prime mance of the market as a whole or its individual
Standard and are traded on a continuous basis. sectors. Thus, all share indices provide benchmarks
for portfolio valuation. These indices include, for
GEX®, the German Entrepreneurial Index, comprises example, Prime All Share, Technology All Share®,
all German small to medium-sized enterprises (SME) General All Share, Entry All Share and CDAX®, which
listed in the Prime Standard segment of FWB® Frank- contains all German stocks of the Prime Standard
furter Wertpapierbörse, the Frankfurt Stock Exchange. and General Standard.
GEX is thus the new indicator for the stock-market
performance of small and medium-sized enterprises Sector indices
and adds to the existing indices of the DAX family. Deutsche Börse calculates sector indices for the
Prime Standard segment as well as for a larger rep-
The RX REIT Index® comprises all REITs from the resentative portfolio comprising all companies listed
REIT segment of Deutsche Börse which are listed in in the Prime Standard, General Standard and Entry
the Prime Standard. The high transparency standards Standard.
that need to be met in order to be listed in the Prime
Standard provide a necessary prerequisite for the Sector indices differentiate the listed companies and
inclusion in the RX REIT Index. Moreover, Deutsche track the development of the individual sectors. The
Börse calculates the General Standard Index for the advantages: investors can make investment decisions
General Standard and the Entry Standard Index for in a more selective manner; companies benefit from
the Entry Standard. the depiction of their respective peer group.
General Standard and Prime Standard 17
Selection and sector indices by transparency level
Prime Standard DAX® SDAX® DAXsupersector DAX International 100
MDAX® GEX® DAXsector DAX International Mid 100
TecDAX® RX REIT Index® DAXsubsector DAXsector All
DAXsubsector All
General Standard General Standard Index
Entry Standard Entry Standard Index
For the Prime Standard, as well as for a larger port- Deutsche Börse calculates the sector indices DAX-
folio, 18 sector indices and 63 subsector indices are subsector, DAXsector und DAXsupersector based on
provided. In addition, nine supersector indices are the companies in the Prime Standard. The all share
calculated for the Prime Standard segment. indices DAXsubsector All and DAXsector All take into
account all securities in the Prime Standard, General
Sector assignment is dependent upon a company’s Standard and Entry Standard.
primary sales focus. Where, in individual cases, a
shift in the sales focus has occurred, the respective
company can be removed from its present sector and
included in another one on the next chaining day.
Sector indices by transparency level
9 Supersectors DAXsupersector
18 Sectors DAXsector DAXsector All
63 Subsectors DAXsubsector DAXsubsector All
Prime Standard Prime Standard
General Standard
Entry Standard
18 General Standard and Prime Standard
Mapping Your Way to an IPO
Deutsche Börse can help you make your IPO one of
the key milestones in your company’s history.
An IPO covers the following steps:
Phase 1: Planning and preparation Phase 3: Realization and marketing
Initial consultation with Deutsche Börse Prepare IR activities (establish an IR department; draft a
Form an IPO team within the company catalogue of IR procedures)
Recruit advisors (e.g. Deutsche Börse Listing Partner ®) Publish EU prospectus
Choose the right syndicate bank Allocate research coverage
Create legal prerequisites within the company File application for admission
Brief analysts
Contact investors
Phase 2: Structuring Phase 4: Price determination - secondary market
Set up of a time plan Price determination and delivery process
Create business plan and IPO strategy First price determination (fully electronic price determination on
Due diligence for key business areas Xetra® or price determination with the help of market makers)
Prepare EU prospectus Structure of the first trading day by Deutsche Börse with media
presence on the fl oor of the Frankfurt Stock Exchange
Continuous trading on Xetra electronic trading system
General Standard and Prime Standard 19
AIXTRON
“ Aixtron has been listed on the Frankfurt Stock Exchange since 1997.
Good liquidity in Frankfurt makes sure that Aixtron is attractive for
investors worldwide. The IPO made possible fast growth to become
what we are today: the worldwide leading provider of deposition
equipment for the semiconductor industry e. g. the production of
LEDs solar cells or data storage chips.”
Wolfgang Breme, Executive Vice President and CFO
AIXTRON AG is a leading provider of deposition Company name AIXTRON
equipment to the semiconductor industry. The Com- Sector Technology,
pany’s technology solutions are used by a diverse Semiconductor
range of customers worldwide to build advanced Country Germany
components for electronic and opto-electronic ap- Index member of CDAX, HDAX, TecDAX,
plications based on compound, silicon, or organic Prime All Share,
semiconductor materials. Such components are used Technology All Share
in fiber optic communication systems, wireless and Admission Date November 6, 1997
mobile telephony applications, optical and electronic
storage devices, computing, signalling and lighting,
as well as a range of other leading-edge technolo-
gies. Founded in 1983, the Company is headquar-
tered in Aachen, Germany. AIXTRON AG’s securities
are listed on the Prime Standard market segment
of the Frankfurt Stock Exchange and on Nasdaq,
and are included in the TecDAX index and the MSCI
World Small Cap Index. Further information about
AIXTRON on the internet at www.aixtron.com.
20 General Standard and Prime Standard
Deutsche Börse Capital Market Services:
Added Value for Companies
Deutsche Börse offers a comprehensive range of Investor Guide
services to aspiring IPO candidates and listed com- This gives you access to a compendium of around
panies. These include, for example: 2,200 addresses and contact data of institutional
investors and asset managers from 31 countries.
IPO Test The investor data can be sorted to meet customized
To find out if you are ready to go public, try the IPO requirements and is updated on an ongoing basis.
test on our website: www.deutsche-boerse.com > www.deutsche-boerse.com > Listing > Being Public
Listing > Going Public > I-POint > IPO Test > Products and Services > Investor Guide
Xetra start live Investor Guide Online
The visualization tool “Xetra start” allows you to ex- Deutsche Börse’s investor search engine helps you
perience live the first price fixing on the trading floor to analyze your shareholder structure at the national
when going public. With Xetra start you will reach a and international level and to identify new investors
broad audience worldwide on the day of your IPO. worldwide. As a result, it is a key analysis instrument
for your daily investor relations work. Companies
stocks & standards Workshops in the Entry Standard, General Standard and Prime
This series of Deutsche Börse workshops gives par- Standard can access the Investor Guide Online free
ticipants an opportunity to gain information on topi- of charge via our website at:
cal issues, to discuss these issues with competent www.deutsche-boerse.com > Listing > Being Public
and experienced speakers and to exchange views > Products and Services > Investor Guide Online
with other market participants.
Listing Center
German Equity Forum The Internet portal provides you with an overview
Investors from Germany and abroad use Europe’s of current stock exchange issues, dates and statistics
largest information and networking platform on at www.deutsche-boerse.com > Listing
equity financing to meet companies that want to
increase their capital basis. The companies present Deutsche Börse publications
their business models, products and perspectives. Obtain regular information and subscribe free of
Market participants can also discuss current capital charge to the publication of your choice:
market issues in workshops. Information on the
most current event can be found at: Issuers Guide: comprehensive manual on going
www.eigenkapitalforum.com and being public
vision+money 1585: client magazine for current
Deutsche Börse Spotlights capital market issues
This sector-specific series of events for listed com- facts & figures: monthly statistics on market
panies, IPO candidates and institutional investors segments
focuses on high-tech engineering, software & IT Circulars: official notifications from Deutsche
and life sciences sectors. Börse containing information on listing changes
or amendments to the Rules and Regulations
General Standard and Prime Standard 21
Being Public Checklist Investor Relations Online Organizer
A stock exchange listing places high demands on Small and medium-sized listed companies are pro-
your corporate communications: depending on the vided with the online tool to support the planning
market access chosen, General Standard or Prime of legal obligations and investor relations activities.
Standard, you must, for example, fulfill disclosure The tool is available only in German.
obligations which vary in intensity. You need to www.deutsche-boerse.com > Listing > Being Public
know what must be communicated when and how > Produkte und Services > Investor Relations On-
to whom. Our Being Public Checklist supports you line Jahresplanung
in these efforts. See our website:
www.deutsche-boerse.com > Listing > Being Public Your contact at Deutsche Börse
> Products and Services > Being Public Checklist Issuer & Investor Markets
Telephone +49-(0) 69-2 11-1 88 88
Price Chart Integration E-mail issuerrelations@deutsche-boerse.com
A special Investor Relations tool is available to com-
panies listed on the Frankfurt Stock Exchange: A link
enables companies to integrate a price chart of their
share on their own website, free of charge.
www.deutsche-boerse.com > Listing > Being Public
> Products and Services > Price Chart Integration
Exchange Reporting System (ERS)
The Exchange Reporting System (ERS) supports
issuers of Prime Standard in view of the fulfillment
of their reporting duties, e.g., the transmission
of Annual Financial Reports, Quarterly Financial
Reports and financial calendars to Deutsche Börse.
In parallel, the data is disclosed through the website
of Deutsche Börse and made available at very short
notice to international investors.
www.deutsche-boerse.com > Listing > Being Public
> Products and Services > ERS
My X-Mobile
Follow the market trend of companies and peer
groups easily and comfortably with your mobile
phone or PDA. This way you are always up to date:
about your own company, your customers as well as
the market environment. More information about this
service you will find on our website:
www.deutsche-boerse.com > Listing > Being Public
> Products and Services > My X-Mobile
22 General Standard and Prime Standard
Deutsche Börse Group
Deutsche Börse is one of the most innovative, and Clearstream
at the same time one of the most established stock This Deutsche Börse subsidiary is Europe’s leading
exchange organizations. It was formed back in the organization for custody, clearing and settlement
16th century as a regional marketplace with fixed services.
exchange rates; today, it is a transaction services
provider that uses state-of-the-art technology to Deutsche Börse Systems and Clearstream Services
give companies and investors access to the global These Deutsche Börse’s subsidiaries develop, set up
markets. and operate the company’s technical infrastructure –
and the infrastructure of 15 other stock exchanges
Deutsche Börse Group is the only fully integrated worldwide.
stock exchange organization in the world. It offers
its clients one-stop access to all relevant services
and systems:
Cash market
Deutsche Börse’s cash market comprises two plat-
forms: floor trading and Xetra®. Equities and bonds,
for example, are traded on these platforms. The
Xetra electronic trading system is a synonym for
the automation of securities trading and stands for
speed, transparency and cost efficiency.
Derivatives market
With over 2,1 billion traded derivatives contracts
in 2008 and a market share of over 90 percent for
individual products, Eurex, a subsidiary of Deutsche
Börse and SWX Swiss Exchange is the world’s larg-
est market for the trading and clearing of futures
and options on equities and equity indices.
Indices
DAX®, MDAX®, SDAX®, TecDAX®, GEX® and other
indices make listed companies more visible for
investors.
2 General Standard and Prime Standard
Published by Registered trademarks
Deutsche Börse AG CDAX®, Classic All Share®, DAX®,
60485 Frankfurt /Main DAX® International 100 , DAX® In-
Germany ternational Mid100, Deutsche Börse
www.deutsche-boerse.com Listing Partner ®, FWB® Frankfurter
Wertpapierbörse, GEX®, MDAX®,
February 2009 RX REIT Index®, SDAX®, TecDAX®,
Order number 1110-2780 Technology All Share® and Xetra® are
registered trademarks of Deutsche
Börse AG.
Disclaimer
This brochure is published for informa-
tion purposes only. The publisher as-
sumes no liability for its accuracy and
completeness. No liability is assumed
by the publisher for the use of informa-
tion contained in this brochure relating
to stock exchange listing, admission
to trading and subsequent ongoing
requirements. Information contained in
this brochure is of no legal significance
whatsoever. Only the relevant legal
and exchange regulations are legally
binding.
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