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Stock exchange trading; application for admission of securities

Securities that you wish to place on the stock exchange for trading on the regulated market must have been admitted beforehand.

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Procedure details

If you wish to have securities traded on the regulated market of a stock exchange, you require admission by the management. Unless the securities are already admitted by law.

  • As a company wishing to issue a security, you must submit an application for admission to the stock exchange together with
    • a credit institution,
    • a financial services institution
    • a securities institution,
    • the branch of a foreign company in Germany that conducts banking business or provides financial services, or
    • the German branch of a CRR credit institution domiciled in another EEA member state.
  • As an applicant company, you must submit a prospectus approved or notified by the German Federal Financial Supervisory Authority (BaFin). You must publish this prospectus before listing the security on the stock exchange.
  • Your company must have been in existence for at least 3 years and you must have published annual financial statements for the 3 financial years preceding the application.
  • Depending on their class, the securities must meet certain minimum requirements with regard to
    • expected market value,
    • equity capital,
    • total nominal value or
    • number of units.
  • The securities must be freely tradable.
  • The denomination of the securities, in particular the smallest denomination and the number of securities issued in this denomination, must take into account the needs of stock exchange trading and the public.
  • Shares to be admitted must be sufficiently diversified.

  • Required Documents
    • Certificate of approval by the Federal Financial Supervisory Authority (BaFin) or the competent authorities of other member states of the European Economic Area (EEA)
    • Copy of the global certificate or global certificate for securities
    • Articles of association or partnership agreement in the currently valid version
    • certified excerpt from the commercial register in the latest version
    • instruments of approval, if
      • the establishment of the issuer
      • the exercise of its business activities or
      • the issue of the securities requires state approval
    • evidence of the legal basis for the issue of securities
    • annual financial statements and the management reports for the last 3 financial years, including the auditors' reports

  • Stock exchange - apply for admission

    If a credit or financial services institution wishes to trade directly on a stock exchange, the institution requires admission as a trading participant.

Status: 26.09.2024
Editorial responsibility Bundesministerium der Finanzen + Bayerisches Staatsministerium für Wirtschaft, Landesentwicklung und Energie
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