Frankfurt Stock Exchange: history, participants, principle of work. Frankfurt Stock Exchange Frankfurt Exchange Time

The Frankfurt Stock Exchange is one of the oldest stock exchanges in the world, as well as one of the main exchange rates of mainland Europe. Frankfurt Stock Exchange is included in the Deutche Borse Group holding group, which also belongs to several dozen financial and banking sector. The Group provides a full range of exchange services, which provides 70% of the stock activities of Germany - the largest economy of the European Union.

History of the Frankfurt Stock Exchange

The beginning of the FSE Stock Exchange is attributed to 1585, when merchants western Europe They met in the most developed trading site at that time - in the city of Frankfurt. It all started with ordinary fairs that merchants came from all parts of Europe.

thousand different issuers

place among the stock exchanges of the world

all financial transactions in Germany

Some historians mention the first sources of the Frankfurt Exchange even earlier - for 1150. It was then, in their opinion, the first product fair occurred on the Rhine, which laid the beginning of the history of the Exchange. At first, the fairs were held once a year, but at 1330 Ludwig Bavarian, watching the popularity and high demand of the trading platform, decided to introduce an additional spring fair, which became an excellent news for both agricultural producers and buyers from Western Europe. In turn, merchants from the western part brought the fish to the Fair, which also increased the income of the platform.

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By the middle of the sixteenth century, the trading platform in Frankfurt has already become one of the largest and most popular traders and buyers from Holland and France, which were subjected to persecution from His government due to Protestantism, came to this exchange platform.

The period that is considered more officially as the beginning of the functioning of the Frankfurt Exchange, namely, 1585, became the date of entering uniform exchange rates. This was caused by too much merchants from different regions and, according to a huge number of different monetary units. Buyers and sellers themselves began to be confused in the course difference, as well as fraudsters often used this factor for the purpose of profit. Then the bidders decided to establish a single exchange rate. Against the background of such regulaments on the stock exchange immediately appeared traders of bills and exchange rate speculators. The first official leaf of exchange differences for currency exchange was adopted in 1625. The list included 12 currencies with dates of closing transactions of prisoners at the fair.

NameBurse (BoerseBORSE) was fixed behind all stock exchanges of continental Europe from 1605 years. Historians assign this name merit merit van der Burs from Brugge. Also, some believe that the alley had a similar name, on which the merchants began to gather for the first time.

In 1666, a set of rules for the behavior of exchange brokers appeared on the Frankfurt Stock Exchange, and at the end of this century, Frankfurt's exchanges were already able to acquire their own GROBER BRAUNFELS building for trading activities. The first treasury bonds of the German Empire were posted on the Frankfurt Stock Exchange in 1779.

The end of the First World War brought the strongest to Germany economic crisis And in 1929, almost all shares of companies fell in price of up to behold kopecks. During World War II, the Frankfurt Exchange functioned quite actively and gained momentum, but with the fall of the authority of the Third Reich received a significant outflow of capital and closed for 6 months.

1953 it becomes again the beginning of the era of the dawn of the Frankfurt Stock Exchange and at the site begin to pass active trading to the US currency, Canada, Switzerland and others developed countries World. By 1957, the stock exchange restores the destroyed trading room and continues full functioning.

In 1969 in the building trade exchange FSE installed a computer system for conducting trade operations Boga and this is two years earlier than the installation of a similar system on stock Exchange NASDAQ. in USA. The Boga system provided the operational transmission of quotes by telecis.

At the beginning of the 90s, the Frankfurt Exchange became the "birthplace of new markets" - European companies of the technological sector and novice web companies placed their shares on the Frankfurt site. Also in 1993, FSE entered the DEUTCHE BORSE AG Holding.

In the early 2000, the leadership of the Frankfurt Stock Exchange held several meetings with the owners of the London Stock Exchange. The subject of conversations were the merger of the two largest European sites, which could give rise to one of the largest stock markets in the extent. However, the transaction has not fully took place in connection with the fact that one of the initiators is Werner Zafert (Deutche Borse AG general director) resigned. The stock exchanges managed to achieve only a partial merger with the formation of an interethnic trading platform International Exchange, which was headed by the Frankfurt leadership.

Later, the owners of the German exchange platform began a discussion on the merger with another exchange - the French stock exchange EUROEXT. But the deal was failed to take place, since EUROEXT bought the New York Stock nYSE Exchange For 9.96 billion dollars. Because of such a series of failures, the FSE leadership decided to quickly acquire the Six Swiss Exchange Swiss Holding. Significant increase in capitalization data did not bring these transactions, but it was allowed to export the Xetra trading system to abroad, which was created by the Germans in 1997.

The Xetra trading system is still great popularity and demand. Not only the Frankfurt stock exchange is connected to it, but also all divisions of Deutche Borse AG, the network of Swiss stock exchanges, Shanghai Exchange and Eurex. The system is characterized by high speed and reliability, as well as the simplest user interface, which allows transactions with shares, derivatives, as well as in market conditions cash currency and precious metals (CASH MARKET and XETRA GOLD).

Modern FSE

The modern Frankfurt Stock Exchange is the leading European platform for transactions with shares, bonds, derivatives and synthetic financial inglacial instruments. Listing FSE includes more than 1000 companies with a total capitalization of almost 2 trillion dollars. The Borse AG group includes not only stock markets, but also banking institutions, a clearing company, official manels and trading centers.

Exchange operates from 9:00 to 20: 00. A wide range of tools not only of European origin is available, but also financial assets Russia, Asia and America.

The stock exchange is calculated by several stock indices, two of which are of great popularity throughout the world: DAX and EUROSTOXX 50.

DAX will enter into account since 1988 and is considered to be an index of economic activity of Germany. The index indicator includes 30 largest countries of the country whose shares are addressed on the Frankfurt Stock Exchange. During its existence, the DAX index has grown 7 times.

Euro Stoxx 50. - The basic indicator of the entire EU economy, which is calculated immediately in the 5th currencies.

The most famous companies that are available for trade in the FSE market are Volkswagen Group, Siemens, Man, Henkel, E.on, Deutsche Lufthansa, Deutsche Bank, Daimler, Commerzbank, BMW, Bayer, Basf, Adidas and others.

To date, the Frankfurt Stock Exchange provides 90% of all financial operations In Germany and controls about 30% of the European market.

Its value has increased after World War II in the late 40s, when the trading platform took the leading position in Germany. Since 1993, the Frankfurt Stock Exchange is running "Deutsche Boerse Group".

The total capitalization of companies, and their exchange is presented more than a thousand, is about two trillion dollars. Turnover financial means The Frankfurt Stock Exchange is almost 90% of the trade turnover of all European stock exchanges. In 2017, the decision of the European Commission was blocked by the merger of this trading platform with the London Exchange, which prevented the monopolization of the market.

Stock indexes

The main stock index of the Frankfurt Exchange is denoted by the DAX abbreviation, its oscillations are largely characterized by the state of the German economy. This indicator is calculated on the basis of current stock quotes of thirty largest German companies.

In addition to the main index, its derivatives are used, they are calculated on the basis of the value of the shares of the following categories:

• Tecdax. 30 companies from high-tech industries whose assets are distinguished by high liquidity;
• MDAX. 50 largest corporations that have not entered TECDAX. IN this group The world-famous brands of Puma SE, Metro AG and Hugo Boss AG are included.
• SDAX. Companies in the rating of positions starting from 81 to 130, Bauer AG is the most famous representative of this group.
• HDAX is a general index, calculated on the basis of data on the quotations of shares of firms from various sectors of the economy.

CDAX consolidated index reflects the stability of the exchange, the basis for its calculation is the data of more than three hundred issuers, and their number includes the largest automakers, financial and credit institutions, as well as many other companies.

The Xetra trading system

The operation of the Exchange provides a complex software and hardware complex. The trading system is called Xetra and for the first time it was launched in 1997. With this system, more than two dozen European and Asian trading platforms are integrated, including the Osmerman, and Shanghai.

The Xetra system allows you to perform operations for buying and selling derivatives, stocks, securities. Subsystem Cash Market is used in the cash market money, and Xetra-Gold - to acquire and implement banking metals. In total, there are more than 2,500 tools in the complex, including traditional - ETF, investment funds Both others, as well as rarely used ETNC (valuable debt paper) and ETSC (Product Index).

Basic players

The described trading platform takes place and selling securities of a large number of companies. The main players of the Frankfurt Exchange are divided into three categories:

• banks;
• official term manels;
• registered traders.

Each of them performs its own functions. Banks form a priority price and provide the main shaft of operations. Macners accept applications from their customers and fulfill them, following the instructions obtained. Free traders do not have significant speculative potential, although their total quantity they cannot act consolidated.

Perhaps I will start with a small lyrical retreat. The Frankfurt Exchange (FSE) is one of the oldest in the world, its origins are almost the 11th century. Today it is the main German stock exchange, which provides 90% of trade in shares in Germany and more than 60% of EU revolutions.

History of Exchange

The roots of the Frankfurt Stock Exchange go to the medieval trade fairs of the XI century, although some historians call the beginning of the formation of organized bidding IX century. In the XVI century, Frankfurt turned into a rich and lively city with economy based on trade and financial services.

In 1585, an exchange was created to establish fixed currency exchange rates, which is considered the "birth" of the stock market. Over the next centuries, Frankfurt has become one of the first exchanges in the world - along with London and Paris. Bankers, such as Meyer Ambrel Rothschild and Max Warburg, had a significant impact on Frankfurt's financial trading.

Only in 1949 after World War II, the Frankfurt Stock Exchange finally approved as the leading stock exchange in Germany.

During the 1990s, FSE was also a base for a new market in the framework of the World Board "DOT-COM".

In 1993, Frankfurter Wertpapierbörse began to be managed by Deutsche Börse AG.

In 2018, the trading platform continues to occupy a leading position in the ranking of the world stock exchange. Millions of transactions with shares, bonds, derivatives and synthetic are performed here daily. financial instruments, currencies and gold.

What is Xetra

Xetra is the main trading system of the German stock exchange (program, software). Xetra trading technology replaced the IBIS platform on November 28, 1997.

Through its division of Deutsche Börse Cash Market, Deutsche Börse AG (reads Deutsche Bern) in Frankfurt am Main now manages two trading platforms based on Xetra trade technology:

1. Xetra (Xetr) is the main market for German shares and stock funds. Exportation and notes are also addressed here.
2. Börse Frankfurt (XFRA) and the exchange of derivatives of Börse Frankfurt Zertifikate AG (previously Scoach) were transferred to Xetra's trade technology on May 20, 2011.

In addition, Xetra trading technology was also used at the Vienna Stock Exchange since November 1999. In December 2010, the Vienna Stock Exchange similarly presented Xetra on the Ljubljan Stock Exchange. Trading technology also operates on Prague (from November 2012), Budapest (from December 2013), Irish (since 2000), Bulgarian (since 2008), Maltese (starting since 2012), Cayman Islands Stock Exchange (from 2013 year) and zagreb (since 2017).

Eurex Bonds, Deutsche Börse trading platform for government bonds, relies on Xetra's trading technology. The new generation trading system, operating in the Shanghai Stock Exchange, was also developed on the basis of Xetra's trade technology.

Features of the Xetra system

You can trade on Xetra from anywhere in the planet. Here are key features of the system:

• Automatic making all transactions in a single registry.
• Analysis of each separate order for the sale or purchase.
• Selection of counter orders.
• The choice of the most favorable price for greater benefits from the transaction.
• Modular principle of building software.
• The built-in tool for tracking the work of the market is XetRobServer. He fixes the actions of the trader, reduces analytics and reports on deviations from standard action.

How to accommodate the stock exchange?

The conditions for listing on the Frankfurt Stock Exchange are quite simple, but, depending on the company's size, two options are possible.

The first is "standard", it is regulated by Deutsche Börse AG. The second is called "Premium", and the regulatory document here is the Directive of the European Parliament, known as Mifid, "On the Financial Instrument Markets".

Participants premium listing, in addition to compliance with the size of the business, should obligatory Regularly conduct various educational events, congresses and meetings.

To access one of the company's markets, it is necessary:

• There are at least 3 years.
• Make an emission prospectus.
• Create financial statements in line with international; IAS / IFRS standards.
• The minimum market capitalization of the Issuer should be 1.25 million euros.
• The minimum amount of accommodation is 10 thousand shares.
• Free float (the number of shares in free circulation) at the time of placement - at least 25%.
• For six months before the placement, the company must pass audit and publish its results in English or German on its own site.

Pros and Cons Exchange

At the Frankfurt Exchange, the Xetra has proven itself as reliable and safe system Trade. Her users note such advantages - performance prices in accordance with the market, low transaction costs, equality of bidding participants, geographical location and anonymity of trading partners.

The main problems that were identified in the process of trading were to ensure the stability and availability of stock trading, scalability and long-term growth in market activity.

The most famous traded shares

Of course, the largest roads are shares of such world famous giants as Adidas, Lufthansa, Henkel, Sap, Bayer, Daimler, Deutsche Bank, Deutsche Telekom, Porsche, BMW, Volkswagen Group. They also enter the 30 most liquid shares of the DAX index (blue chips).

How to get access to trade on the stock exchange

In Russia, access to trade in the German Stock Exchange can be obtained almost through any broker (discovery, fins, whale finance, BCS, etc.). The problem here is that by russian legislation This can only be done by a Russian citizen who possesses the status of a qualified investor (with more than 6 million rubles in the account).

Also, access can be obtained abroad: through the foreign "daughter" of Russian Brokers Kit Finance (Estonia), Finams (Cyprus and USA) or a foreign broker: IB, Exante, Captrader. In any case, you will have to pay dividend tax. What and in Germany and in Russia.

Rick Kit Opening Captrader Exante

CAUTION ON BINAR Options and Forex

I draw your attention that under the guise of trade in exchange tools in Germany, including shares of companies, fraudsters offer binary options. Be vigilant, they have no relation to the securities market. This is an ordinary casino. Also, as shares are not traded on Forex, as this is the interbank currency market. In addition, it is weakly adjustable.

Access to promotions can be obtained only through a licensed broker.

Excuses of exchange

The main indexes on the Börse Frankfurt is both the well-known DAX and its derivatives DAXPLUS, CDAX, Divdax, LDAX, MDAX, SDAX, TECDAX and VDAX.

In addition, the Exchange of the entire European EURO STOOXX 50 economy is calculated at once in 5 currencies.

DAXS derivatives include mainly the company of one of the sectors of the economy.

Tecdax consists of 30 companies spheres high technologieswhose shares are the most liquid. In particular, companies include such firms as Adva Optical Networking and Quality Service Communications AG (QSC), as well as a Software AG developer.

MDAX is represented by companies that come after the first liquidity thirty. When calculating this index, the indicators of 50 issuers are used. In particular, such well-known brands such as Hugo Boss AG, Metro AG, PUMA SE are included here.

The SDAX index is calculated on the basis of the value of the shares of companies of the first group, which occupy places from 81 to 130 by revolutions on the stock exchange. Here you can meet such famous brands like Tom Tailor Holding AG, Bauer AG and so on.

HDAX is a common index that includes companies regardless of the scope of activity. This includes firms presented in the indexes described above. Among the companies can be noted, for example, BB BIOTECH AG (works in the field of biotechnology) or Q Cells GmbH (produces solar panels).

The CDAX index is also consolidated. It includes more than 300 companies that represent the first and second listing groups. Due to this, this index can be considered as an indicator of "health" of the German economy. Companies from various spheres, including automakers (for example, Volkswagen AG), banks (COMMERZBANK AG) and others are collected here.

Prospects for investment in indexes

The index is essentially a virtual stock portfolio. However, to assemble it in the same proportions that are used to calculate the index, considerable capital will be required. Therefore, major investment companies create investment funds that copy the index. They form a portfolio from the shares included in the index. Then investors can buy shares in this fund (FIF, MUTUAL FUND, ETF). This is the only way of long-term investment in the index.

Just take and buy index can not, it is virtual and not for sale. But, you can buy a derivative tool that is based on it - for example, futures or option. Both are sold only on the stock exchange, no forex \\ binary options have nothing to do with it.

These two tools are limited in terms, they usually expire for 3 months. Therefore, they are used only for speculation buy-sell or hedge. You can theoretically earn on speculation, but not long. Therefore, I advise you to invest for 3 years or more in ETF and diversify my portfolio, including different tools.

One of the oldest and most distinctive stock exchanges, continues to fight for leading positions, both in European and world markets.

History of the Frankfurt Stock Exchange

1585 became a landmark for a regularly held Frankfurt Fair: in order to avoid depreciation of money from a variety of different trading countries, merchants agreed to exchange currencies. The appearance of such a regulator was very effectively reflected in the further fate of the fair, which has already become a reminder of the prototype of modern. The operations carried out on it with promissory notes and goods were carried out first in the open air, near the building of the city administration, but soon the merchants moved to the premises. For this reason, to charge the fees with visitors, an stock exchange executive body appeared, consisting of merchant deputies, and, therefore, stock Exchange in Frankfurt acquired by its organized structure.

Frankfurt Stock Exchange By the beginning of the twentieth century was considered one of the most advanced stock exchanges in Europe. It was traveled by trading bills, bonds and government loans, and the official exchange rate appeared, which united fragmented individual brokers. However, insufficient attention to the new stock tool - shares, along with the First World War Becoming, caused a strong blow to a recent successful institution, sending it to a weighty oblivion. The revival of Phoenix from financial ash was already in the 50s. Xx century.

Dax index

In the late 1980s, a new player on stock market, Deutsche Borse, united several German stock exchanges under its wing, including Frankfurt (FWB). In 1988, the general public was presented dax indexwhich represented a list of 30 leading companies in Germany - "Blue Chips" traded on Frankfurt Stock Exchange. This list includes world leaders in their industries like Siemens (IT technologies), Adidas (Sportswear and Shoes), BMW, Volkswagen Group (Automotive), Bayer (Pharmaceuticals), Metro (Retail), Henkel (Household Chemicals ). Due to the leading positions of these companies in the international market dax index It is one of the most significant in the global market.

Frankfurt in the race with London

On the this moment On the turnover of transactions with shares ranks second in Europe, giving way to his main hate competitor - the London Stock Exchange. To access the first position, German leaders took many steps as negotiations on a possible union with Euronext or Russian MICEX stock exchanges and, and directly tried to buy the main enemy, but the deal with Londoners failed. Some of the weighty advantages Frankfurt Exchange Are: high transparency of the rules of trading in the market and a large number of financial instruments.

Will not be superfluous to mention what exactly on Frankfurt Stock Exchangee in the 19th century began its first steps in the trade of Meyer Ambrelid Rothschild, which soon became a powerful banker and transferred his sons to his influence, the activities of the descendants of which still have a wide public resonance.

The financial center of Germany is the Western part of the country for many decades. It was here that the famous Frankfurt Stock Exchange, which consistently retains the 12th place in the world in market capitalization has been launched. At the same time, it is responsible for approximately 90% of the total turnover of goods, as well as for the essential part of the bidding passing in the European Union. The owner of this site is the largest stock organization - Deutsche Börse Group.

The history of the emergence of the exchange

The year of the foundation of the largest financial organization The German territory is considered to be 1585. This suggests that even the Berlin Exchange is inferior to Frankfurt by age. The trading platform is based on a plain fair, which at that time was a traditional location of transactions.

The reason for the emergence of such institution was the problem with carrying out payment transactions, which provoked the presence of a large number of all sorts of currencies on the market. To facilitate the process, the organizers had to create the stock exchange that was engaged in their exchange. A lot of bills later began to be introduced at the turn. Next, the story developed as follows:

At the moment, the work of the Exchange is under the control of Deutsche Börse Group - organizations with public legal status. The company was founded in 1980.

The Exchange is located in Frankfurt am Main, in the building, which is made in the neo-source style, reminiscent of the mansion rather than the financial institution. At the entrance you can see the bull and the bear - symbols of stock brokers.

Participants of the Exchange

In 2019, the famous FWB (Frankfurter Wertpapier Borse) continues to remain the largest position in the market ranking. There are transactions with bonds, shares, derivatives and synthetic financial instruments. The number of participants today exceeds 1000 companies whose total capital is almost 2 trillion US dollars.

Börse Group includes, except directly exchange platforms, official brokers, clearing organizations, trading centers. Top 5 companies that are permanent bidders are large and respected players in the world of finance and. Their shares are in incredible demand. This status was possible thanks to the implementation of the main requirements of the Exchange:

• Stay in one part stock market With issuers whose work is transparent (Prime Standard);.
• The appeal is about 10% of the participant's shares.
• The location of the central office is the territory of Germany.

Five of the most influential FWB companies today make up:

1. BASF SE with a volume of 300.37 million euros. The concern owns 160 branches and produces more than 7 thousand names of various products, the fourth part of which is implemented directly in Germany itself.
2. Allianz SE is an insurance company operating for more than one century and having more than 70 branches in other countries. In active circulation, there are about 455.95 million shares.
3. Deutsche Bank AG is one of the largest banks in the country, whose number of customers reaches 13 million. The volume of market funds - 32,481.26 million euros, the asset of shares is 1.02 billion.
4. Bayer AG is a well-known worldwide company whose activities are based on the production of chemical and pharmaceutical products. Capital - 67 660.87 million euros. The number of shares is 826.95.
5. Siemens AG - a transnational enterprise specializing in mechanical engineering. Capital on the market is 69,772.34 million euros, and an 881 million shares have been launched into circulation.

Among other players, the stock exchanges can be called: Adidas, BMW, Commerzbank, Daimler, Henkel, Man, Volkswagen Group, Gazprom, Kazakhtelecom, Nokia.

The principle of work on the stock exchange

Today, in which city is the main exchange platform of Germany, everyone who is somehow connected with the stock exchanges is known. Of great interest, it also causes Russian business representatives whose key strategy is aimed at entering the European markets.

But do not forget that the placement of shares on the FWB is a cost-effective procedure conjugate with great risk in finance matters. Moreover, the enormous impact on the work of the exchange as a whole provide directives adopted by the European Union. Ratification In 2007, most of these documents aroused the introduction of changes to the work of the site as a whole.

To begin with, we give a little reference information. The main products traded on the site include:

• currency,
• bonds,
• securities,
• funds,
• cryptocurrencies
• products,
• warranty and certificates.

Almost 50% of companies that are declared in Listing Frankfurt Exchange are foreign. There may be absolutely any participant here. But first will have to provide financial reports. This is stated in the rules of the Exchange itself and in the law on trade in securities.

The main stock index operating on the stock exchange is DAX. It was created in 1988 and still holds the leading position. It is calculated on the basis of the quotations of the shares of thirty most large companiesCompound Listing Exchange. But it is impossible to discount and other indexes that are actively used in the FWB work:

• DAX30,
• Daxplus,
• Divdax,
• CDAX,
• MDAX,
• LDAX,
• Tecdax
• SDAX,
• VDAX.

Regardless of the magnitude of the company, the participants can get one of the two markets:

• Standard - subordinate to the rules of Börse Group;
• Premium - regulated by the documents adopted in the EU.

Today, Frankfurt as the location of the largest stock exchange in Europe attracts more and more foreign issuers. But to become a player on the stock exchange, you need to fulfill the key condition - to transform your company to a public society. That is, a legally, an enterprise must have the status of a joint stock company.

The next thing to ensure is the transparency of the company's development and development history, as well as to provide accounting documentation absolutely accessible to the public.

The cost of accessing the stock market is 5-12% of the amount of funds that will be placed on it.

Additionally, it is necessary to provide a budget to pay for the following services:

• Bringing documentation in line with European standards.
• Restructuring of the enterprise in accordance with the requirements of the EU.
• Communication with stock exchange consultants.
• Preparation of emission prospectus.
• Appointment of stock value.

Only after that the company entered the market gets the opportunity to buy and sell assets. In addition, you can use binary options to receive income, which allow you to receive fixed profits, pre-predicting the price increase in certain assets.

In general, the scheme of work on the stock exchange is somewhat different from other sites. All players can be divided into three categories:

• banking institutions
• official manels,
• traders.

Banks establish the priority cost of purchase and sale operations. Mackers are related directly to the stock exchange. They accept applications and perform them, interact with Forex. But traders have the smallest rights and play the role of assistants in large players.

What is Xetra

The basis of the stock market is the XETRA or Exchange Electronic Trading system. Its creation and implementation falls for 1997. She acquired great popularity thanks to such characteristics as reliability, speed, simplicity of development. Today, about 20 exchanges in Europe are connected to it, including FWB.

This electronic system Allows you to carry out operations for buying and selling derivatives, securities. It also functions the market of precious metals and cash.

You can perform operations from any point of the planet. Let's call the key characteristics of the system:

• automatic reduction of all contracts into a single registry;
• analysis of each order for the sale or purchase separately;
• selection of counter orders;
• purpose of prices that will allow maximum profit from the transaction;
• modular software structure;
• the presence of a tool for studying the principles of the market is the XetRaobServer, which controls the user's actions, conducts analytics and reports the occurrence of deviations from standard operations.

RESULTS

Frankfurt Stock Exchange is one of the oldest and most largest sites in the world. It allows you to carry out operations for the sale and purchase of not only securities and currency, but also goods for various sectors of the economy, including electricity supply treaties. Today, FWB provides 90% of trade in Germany. Its participants include almost 1000 largest concerns. Share foreign companies This list is almost half. But to enter the market, you will have to spend a lot of money and time. For a start, the candidate should show that the work of the enterprise, its development and reporting are absolutely transparent and open to the public.

And you should not forget that the work of the exchange is regulated not only by the documents of its owner, but also subordinate to the prescriptions of the European Union, the requirements of which will also have to be observed.

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