The Munich Stock Exchange: Trend-setting stock exchange trading

As a major stock exchange centre, Munich provides trend-setting market-making models and security-assuring technologies for trading financial products.

The position of being at the forefront of the introduction of innovations facilitating the efficient securing of capital started in 1830, which is when Bayerische Börse was founded by the Münchener Kaufmannsstube based in Munich. The objective was to create a platform removing the tight and complex constraints placed upon security trading in those early days of the Industrial Revolution, and to thus make stocks a main and easy source of capital for growth of the manufacturers in the region.

Today’s tasks of Bayerische Börse AG comprise maintaining a fair, neutral and transparent trading platform to which all market players have unrestricted access. Bayerische Börse AG as the private sector holding company serving as the corporate parent of publicly-governed Börse München fosters the introduction and development of capital market innovations. Thus Bayerische Börse AG developed a market model for Börse München which has since been emulated by a number of other exchanges. This model has set the standards codified into law by MiFID. Both investors and their brokers profit from the features offered by MAX-ONE. The electronic trading system guarantees best execution for orders in more than 12,000 securities. The market model melds the advantages of automated securities trading with the knowhow of longstanding securities brokerages, so called ‘specialists’. Traded on Börse München are shares, bonds, funds, ETFs and ETCs.

To provide small and medium-sized enterprises with a source of equity, Börse München launched m:access in 2005. The success of this market segment led in 2009 to the starting up of other trading platforms under the umbrella of Bayerische Börse AG: CONTREX (CFDs), Zweitmarkt.de (closed-end funds) and greenmarket (CO2 emission certificates traded under best execution conditions).

Bayerische Börse AG at a glance: