The Vienna Stock Exchange operates two markets: the Official Market and the Vienna MTF, a multilateral trading facility. The Official Market is the main regulated market operated by the Vienna Stock Exchange.
An issuer listing securities in the Official Market must adhere to the requirements of the Austrian Stock Exchange Act.[4] 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 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 or equivalent and at least one set of current auditedfinancial statements.
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.[5] 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.[6]
History
Wiener Börse is one of the world's oldest exchanges and was founded in 1771 during the reign of EmpressMaria Theresa of Austria 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.[7]
On 9 May 1873, the stock exchange crashed spectacularly ("Der Krach"), signalling the start of the Long Depression.[8]
In 1985, Jim Rogers triggered a bull market when he said the Austrian capital market had high potential.[9] He has been notable for his contributions to the Austrian stock market.[10]
In 2008, the Wiener Börse agreed to buy the Prague Stock Exchange for an undisclosed amount.[11] 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.[12] In 2015, the Wiener Börse sold the Ljubljana Stock Exchange to the Zagreb Stock Exchange (Zagrebačka burza).[13][14]
In 2019, it opened a multilateral trading facility (the exchange-regulated "Vienna MTF"), a third market for over-the-counter transactions.[15]
In 2020, the Wiener Börse listed for the first time products denominated in the cryptocurrencies Bitcoin and Ethereum, making real-time prices available for trading between available between 9:15 am - 5:30 pm.[16]
Pieter M. Judson (1996). Exclusive Revolutionaries: Liberal Politics, Social Experience, and National Identity in the Austrian Empire, 1848-1914. University of Michigan Press. p.166. ISBN9780472107407.
This article uses material from the Wikipedia article Wiener_Börse, and is written by contributors.
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