Frankfurt Stock Exchange

The Frankfurt Stock Exchange (German: Frankfurter Wertpapierbrse, FWB) is the worlds !"th
largest stock exchange #$ market ca%itali&ation' (ocated in Frankfurt, German$, the Frankfurt Stock
Exchange is owned and o%erated #$ )eutsche B*rse (FWB: )B!), which also owns the Euro%ean
futures exchange Eurex and the clearing com%an$ +learstream' ,t is located in the district of ,nnenstadt
and within the central #usiness district known as Banken-iertel' The Frankfurt Stock Exchange
accounts for o-er ." %ercent of the turno-er in the German market and a -er$ large share of the
Euro%ean market' ,n /"!", the Frankfurt Stock Exchange agreed to mo-e to a#olish floor trading and
com%leted this transition in 0a$ /"!!'1!2 Toda$, trading takes %lace exclusi-el$ -ia the 3etra s$stem,
with redundant floor #rokers taking on the role of market4makers on the new %latform' 0ore than !5
international exchanges ha-e ado%ted 3etra (including the 6ienna Stock Exchange in !..., the ,rish
Stock Exchange in /""" and the Buda%est Stock Exchange in /""7)' 8%%roximatel$ 59: of the 7""
market %artici%ants in Frankfurt come from a#road' 8s of ;o-em#er, /"!", com%anies from more than
<" countries list on the Frankfurt Stock Exchange with 5.: from ;orth and South 8merica, 7!: from
Euro%e (including =ussia), !5: from 8sia and >: from 8ustralia and 8frica' The Frankfurt Stock
Exchange has more than /?" international trading institutions and more than 5,?"" traders' ,n-estors
directl$ connected to the Frankfurt Stock Exchange re%resent 7?: of the worlds in-estment ca%ital'
The trading indices in Frankfurt are )83, )83%lus, +)83, )i-)83, ()83, 0)83, S)83,
Tec)83, 6)83 and EuroStoxx ?"' 8utomatic 3etra trading runs from ".:"" to !9:7" with closing
auction from !9:7"4!9:7?, floor #rokers trading times are from <:"" to /":""' ,n ;o-em#er /""7,
(ate@Earl$ )83 was introduced running from "<:"" to ".:"" %re market and !9:5?4/":"! during after
hours and in /""> 34)83 was introduced running from "<:""4".:"! and !9:5?4//:"" (in line with
8sia and AS trading hours)' The origins of the Frankfurt Stock Exchange go #ack to the .th centur$
and a free letter #$ Em%eror (ouis the German to hold free trade fairs' B$ the !>th centur$ Frankfurt
de-elo%ed into a wealth$ and #us$ cit$ with an econom$ #ased on trade and financial ser-ices' ,n !?<?
a #ourse was esta#lished to set u% fixed currenc$ exchange rate' )uring the following centuries
Frankfurt de-elo%ed into one of the worlds first stock exchanges 4 next to (ondon and Baris' Bankers
like 0a$er 8mschel =othschild and 0ax War#urg had su#stantial influence on Frankfurts financial
trade' ,n !<95 Frankfurt Stock Exchange mo-ed into its new #uilding at B*rsen%lat&' ,t was onl$ in
!.5. after World War ,, that the Frankfurt Stock Exchange finall$ esta#lished as the leading stock
exchange in German$ with conseCuentl$ incoming national and international in-estments' )uring the
!.."s the Frankfurt Stock Exchange was also #ourse for the ;euer 0arkt (German for New Market) as
%art of the world wide dot4com #oom' ,n !..7 the Frankfurter Wertpapierbrse (Frankfurt Stock
Exchange) #ecame )eutsche B*rse 8G, o%erating #usinesses for the exchange' From the earl$ !.>"s
onwards the Frankfurt Stock Exchange took ad-antage of the close #$ Bundes#ank which effecti-el$
decided on financial %olicies in Euro%e until the introduction of the euro in /""/' Since then the
exchange %rofits from the %resence of the Euro%ean +entral Bank in Frankfurt' The next #ig turn o-er
seen #$ FSE is of 6olkswagen' B0W to #u$ out 7!'>: shares of 6W' Dowe-er, not kee%ing 6W into
an awkward %osition, B0W has onl$ the daughter rights to the com%an$' 6W 8G made the agreement
of not adding this internal committee into B0W list of com%anies as 0,;, E ==' ,n /""/ and /""5
)eutsche B*rse was in ad-anced negotiations to take o-er (ondon Stock Exchange, which were #roken
off in /""?
0ean while That of ;igeria Stock exchange ,n !.>", was formed and known as the (agos Stock
Exchange' ,n )ecem#er !.99 it came to #e called The ;igerian Stock Exchange' +urrentl$, The
;igerian Stock Exchange (;SE) consists of six #ranches and the Dead Fffice is (agos' The Trading
S$stem on the ;SE is full$ automatic'
History and Origin of the Nigeria Stock Exchange:
The Dead Fffice of The Nigerian Stock Exchange is (agos' 8t %resent, an office was launched in
8#uGa' ,n !.>!, The Nigerian Stock Exchange commenced o%erations with !. securities enrolled for
trading #ut at %resent, the num#ers of enrolled securities are /</' The (agos #ranch was launched in
!.>!H Iaduna, !.9<H Bort Darcourt, !.<"H Iano, !.<.H Fnitsha, Fe#ruar$ !.."H and ,#adan 8ugust
!.."H 8#uGa, Fcto#er !... and Jola, 8%ril /""/'
,n !.<<, The Nigerian Stock Exchange management %rotested to the go-ernment a#out a re%ort on the
reform of ;igerias ca%ital market'
Market Indices
8ll listings are incor%orated in the onl$ index, the Nigerian Stock Exchange' 8ll Shares ,ndex were
in-ented on 7rd Kanuar$ !.<5' Trading da$s and times on the (agos Exchange are 0onda$ to Frida$,
.:7" to !/:7"' +harges include a !: commission on the traded -alue of shares' Withholding tax on
di-idend and interest remains at !":H cor%orate income tax, 7":, ca%ital gains tax, !":' +harges on
shares transactions ha-e #een graduall$ reduced o-er the $ears Market Capitai!ation
8s of 0arch "., /""9, Nigeria Stock Exchange has /<7 listed com%anies with a total market
ca%itali&ation of a#out ;!? trillion (L!/? #illion)'
Ma"or Co#panies isted in Nigeria Stock Exchange
8'8'8' Stock#rokers (imited
8,( Securities (imited
8lliance +a%ital 0anagement +om%an$ (imited
BF+( 8ssets E Securities (imited,
BG( Securities (imited,
+al$x Securities (imited
+a%ital 8ssets (imited
)akal Ser-ices (imited
)a-and$ Finance E Securities (imited
E0, +a%ital =esources (imited
$op In%estors
8ll#ond ,n-estments (imited
8ltrade Securities (imited,
8m$n ,n-estments (imited
BS) Securities (imited
+a%ital Ex%ress Securities (imited
)elords Securities (imited
)enham 0anagement (imited
)e%enda#le Securities (imited
E%ic ,n-estment Trust (imited
ECuator Finance E Securities (imited Securities (imited
Counci
On the &th of 'ugust ())* the new council mem#ers of the Nigerian Stock Exchange were
nominated Bresident 8lhaGi 8liko )angote, +F; !st 6ice Bresident +hief =eginald 8##e$4Dart,KB /nd
6ice Bresident )r Erastus B'F' 8king#ola, 0F;'