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Apply for permission to establish a stock exchange

Source: Zuständigkeitsfinder Schleswig-Holstein (Linie6Plus)

Service Description

The Exchange Supervisory Authority may allow you to establish an exchange upon application.

The Exchange Supervisory Authority may allow you to establish an exchange upon application. To do so, you must meet various requirements and provide evidence of these. The permission to establish an exchange is limited to the federal state in which you plan to operate the exchange.

The regulations of the Stock Exchange Act (BörsG) must be observed.


Process flow
  • They submit the required documents to the exchange supervisory authority.
  • The competent exchange supervisory authority is the authority in the country in whose territory the exchange is to be located.
  • The exchange supervisory authority shall examine whether the requirements for the admission to listing have been met. Additional information may be required, if necessary.
  • Permission or refusal of the Exchange Supervisory Authority shall be made in writing by mail.
  • A permission expires if the Exchange does not start its operation within one year.
  • The Exchange Supervisory Authority may subsequently impose conditions on a license or cancel it (Article 4 paragraph 5 BörsG).
Competent authority

The exchange supervisory authority responsible for you depends on the country in which the exchange is to be established.

Requirements

The application for the granting of a license must be submitted in writing to the Exchange Supervisory Authority. The requirements can be found in the Stock Exchange Act (BörsG).

The Exchange Supervisory Authority may require further information for the examination.

Which documents are required?
  • Proof of the funds required for the operation of the exchange pursuant to Article 5 (5) of the Exchange Act;
  • The names of the managing director(s) of the operating institution of the exchange as well as information required for the assessment of the reliability and professional suitability of these persons;
  • A business plan indicating the type of planned transactions and the organizational structure and planned internal control procedures of the Exchange operating entity, as well as the Exchange's rules and regulations;
  • Information on the ownership structure of the exchange operating company, in particular on the owners of significant shareholdings within the meaning of Article 6 (6) of the Stock Exchange Act and the size of their shareholdings;
  • information necessary for the assessment of the reliability of the holder of significant shareholdings.
    If the holder of a significant participation is a legal entity or a commercial partnership, the facts essential for the assessment of the reliability of its legal or statutory representatives or personally liable partners shall be disclosed.

The Exchange Supervisory Authority may request the submission of further documents.

What are the fees?
  • fixed costs
  • cost framework (range)

according to the respective state administrative cost regulations

What deadlines do I have to pay attention to?

After the permit is issued, you have one year to set up the exchange, otherwise the permit expires.

Processing duration

The processing time of the Exchange Supervisory Authority depends on the type and scope of the application submitted.

Legal basis
Applications / forms

The application for the permit shall be submitted in writing to the Exchange Supervisory Authority.

What else should I know?

The obligations of the exchange operating company result from § 5 of the Stock Exchange Act.

Author

The text was automatically translated based on the German content.

Teaser

The Exchange Supervisory Authority may allow you to establish an exchange upon application.

Process flow

  • They submit the required documents to the exchange supervisory authority.
  • The competent exchange supervisory authority is the authority in the country in whose territory the exchange is to be located.
  • The exchange supervisory authority shall examine whether the requirements for the admission to listing have been met. Additional information may be required, if necessary.
  • Permission or refusal of the Exchange Supervisory Authority shall be made in writing by mail.
  • A permission expires if the Exchange does not start its operation within one year.
  • The Exchange Supervisory Authority may subsequently impose conditions on a license or cancel it (Article 4 paragraph 5 BörsG).

Competent authority

The exchange supervisory authority responsible for you depends on the country in which the exchange is to be established.

Requirements

The application for the granting of a license must be submitted in writing to the Exchange Supervisory Authority. The requirements can be found in the Stock Exchange Act (BörsG).

The Exchange Supervisory Authority may require further information for the examination.

Which documents are required?

  • Proof of the funds required for the operation of the exchange pursuant to Article 5 (5) of the Exchange Act;
  • The names of the managing director(s) of the operating institution of the exchange as well as information required for the assessment of the reliability and professional suitability of these persons;
  • A business plan indicating the type of planned transactions and the organizational structure and planned internal control procedures of the Exchange operating entity, as well as the Exchange's rules and regulations;
  • Information on the ownership structure of the exchange operating company, in particular on the owners of significant shareholdings within the meaning of Article 6 (6) of the Stock Exchange Act and the size of their shareholdings;
  • information necessary for the assessment of the reliability of the holder of significant shareholdings.
    If the holder of a significant participation is a legal entity or a commercial partnership, the facts essential for the assessment of the reliability of its legal or statutory representatives or personally liable partners shall be disclosed.

The Exchange Supervisory Authority may request the submission of further documents.

What are the fees?

  • fixed costs
  • cost framework (range)

according to the respective state administrative cost regulations

What deadlines do I have to pay attention to?

After the permit is issued, you have one year to set up the exchange, otherwise the permit expires.

Processing duration

The processing time of the Exchange Supervisory Authority depends on the type and scope of the application submitted.

Legal basis

Applications / forms

The application for the permit shall be submitted in writing to the Exchange Supervisory Authority.

What else should I know?

The obligations of the exchange operating company result from § 5 of the Stock Exchange Act.

Author

The text was automatically translated based on the German content.

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