Börse Stockholm

Auszug aus den Börsenusancen

Bitte beachten Sie, dass die angeführten Börsenusancen nur einen Auszug darstellen und sich ändern können. Die vollständigen Börsenusancen liegen direkt bei der Börse auf. Jegliche Haftung unsererseits im Zusammenhang mit den angeführten Börsenusancen ist ausgeschlossen.
 

Allgemeine Informationen
Börsenname Stockholm Stock Exchange
Börsensitzung 9:30 Uhr bis 17:30 Uhr Ortszeit
Versammlungsart Parkettbörse (Präsenzbörse)
Börsenart geregelte Finanzbörse
Kursnotiz Stück- und Prozentnotiz
Börsenwährung Schwedische Kronen
Limitarten Betrag
Bestens
Mögliche Limitzusätze -
Mögliche Gültigkeiten bis max. 90 Tage
Valuta Schlusstag + 2 Werktage

Börsenfeiertage

An folgenden Tagen findet kein Börsenhandel statt. Bitte beachten Sie, dass sich manche Feiertage vom Datum her verschieben können.
 

Datum Feiertag
1. Jänner New Year's Day
6. Jänner Epiphany
30. März Daylight Savings Begins
18. April Good Friday
21. April Easter Monday
1. Mai Labour Day
29. Mai Ascension
9. Juni Whit Monday
20. Juni Midsummer Holiday
26. Oktober Daylight Savings Ends
4. November All Saints Day
24. Dezember Christmas Eve
25. Dezember Christmas Day
26. Dezember Christmas Holiday
31. Dezember New Year's Eve

Bitte beachten Sie auch die Orderrichtlinien!

MARKET:
OM Stockholm Exchange
(Stockholm Stock Exchange)
Norrlandsgatan 31
SE-105 Stockholm, Sweden
Telephone: 46 8 405 6000
Fax: 46 8 10 8110

HOURS:
SAX-System: 8:00am-8:00pm
Equities: 9:30am-8:00pm
Convertible bonds: 10:15am-5:30pm
Premium bonds: 10:00am-3:30pm
SOX bonds: 9:00am-4:15pm Monday to Friday.

TRADING SYSTEM:
Shares are traded in the computerized and automated trading system, Stockholm Automated Exchange (SAX). The SAX system matches buy and sell orders to allow the automatic closing of transactions when price and volume meet. On the Exchange shares are traded on 3 different lists: The Official Market A-list, the Parallel markets OTC list for smaller companies, and the O-list for small companies or companies that do not meet the requirements for listing on the A-list. Trading on the Exchange can only be executed through a member of the Exchange. Members are banks and brokerage houses. The individual broker is employed by a member. SAX constantly displays all the information on what is happening in the system. The real-time based information is displayed on the trader's screens. In addition, the Exchange and its members use the system to send out important messages. SAX also gives all the Exchange members access to the same information simultaneously, and the system contributes to a sound and thouroughly transparant market. SAX is a complete order-based system, which means that all transactions are a direct result of a buy or sell order from an investor. There are 3 ways to execute a trade in the SAX system: Automatic matching, manual registration, and Accept. Automatic matching is used for equities, convertibles, and premium bonds, while manual registration or accept procedures are used for retail bonds. Each stock traded on the Exchange has an orderbook in SAX. Orders are given a priority based on price and the time the order was given. Orders are placed at each price level in time-order. When the highest bid and lowest offer price coincide it is automatically executed as a trade by the system. This is the Automatic Matching Procedure. A manual registration is when two traders agree the conditions of a trade between themselves or, when an individual trader has both the buy and sell side of a trade. Traders manually match actual orders with bids or offers in the accept procedure. Through making a bid or offer on the screen the trader confirms acceptance of the given price.

SETTLEMENT & TRANSFER:
Payment for shares purchased is made on the third business day following the transaction (T+3). The clearing and depository organizations are:

The Swedish Central Securities Depository
Vardepapperscentralen VPC AB
Box 7822
S-10397 Stockholm
phone: 46 8 402 90 00
fax: 46 8 24 67 88

OM Stockholm (derivatives)
OM Stockholm AB
PO Box 16305
S-103 26 Stockholm, Sweden
phone: 46 8 700 06 00
fax: 46 8 723 10 92

TYPES OF SECURITIES:
Shares, debentures and convertible debentures, bonds, warrants, options, subscription rights, and foreign shares are listed on the Stockholm Stock Exchange.

LISTING REQUIREMENTS:
To be listed on the A-list a company must fulfill the following requirements:
- the company must have been in operation for 3 years and must be able to present accounting records with respect to those years.
- the comapny must have documented profit earning capacity.
- the company must meet the requirements of the Stockholm Stock Exchange concerning management, composition of the board, financial control, and ability to provide information to the share market.
- the company must have at least 2000 shareholders.
- At least 25% of the shares in the company and 10% of the votes must be owned by the general public.
- the company must have a market value of at least 300 million kronor.
- the company must prepare a Stock Exchange listing prospectus. The company is exempted from this requirement if it has been listed for 2 years on the OTC or O-lists.

To be listed on the OTC-list a company must fulfill the following requirements:
- the company must have been in operation for 3 years and must be able to present accounting records with respect to those years.
- the company must have documented profit earning compacity.
- the company must meet the requirements of the Stockholm Stock Exchange concerning management, composition of the board, financial control, and ability to provide information to the share market.
- the company must have at least 500 shareholders.
- at least 25% of the shares in the company and 10% of the votes must be owned by the general public.
- the company must have a market value of at least 50 million kronor.
- the company must prepare a listing prospectus. The company is exempted from this requirement if it has been listed for 2 years on the O-list or has moved from the A-list.

To be listed on the O-list a company must fullfill the following requirements:
- the company must have the ability to meet the requirements of the Stockholm Stock Exchange concerning management, composition of the board, financial control and ability to provide information to the share market.
- the company must have at least 300 shareholders.
- at least 10% of the shares in the company and 10% of the votes must be owned by the general public.
- the company must prepare a listing prospectus. The company is exempt from this requirement if it has moved from the A or OTC-lists.

REPORTING REQUIREMENTS:
Once listed, a company has continuing reporting obligations. A company must keep the exchange informed of its business and publish information regarding its activities that may be of importance for the valuation of its shares. Companies are required to promptly disclose news of profits, dividends, takeovers and mergers, appointments or dismissals of directors, and any price sensitive information.

COMMISSIONS ON SECURITY SALES:
Commissions are paid by both buyers and sellers and rates are negotiable. For shares listed on the A-list they are usually .45% up to SEK 500,000 and .30% for the portion above SEK 500,000. Commissions for shares on the OTC and O-lists is .65%. The minimum commissions is SEK 100-300 on any contract.

TAX IMPLICATIONS:
There is a 30% withholding tax on dividends. This rate is usually reduced for non-residents through double-taxation treaties. There is no capital gains tax in Sweden for non-residents.

IMPLICATIONS FOR FOREIGN INVESTORS:
All restrictions on foreign ownership of shares in Swedish companies were abolished on January 1, 1993.

INDICES:
The SSE All Share Index (SX General) comprises all A-list shares and is weighted for the market value of each company. There are also 9 business sector indices. The parallel markets can be traced via the SX-OTC and SX-O Indices.

GENERAL INFORMATION:
Trading on the Stockholm Stock Exchange dates back to 1776. It was then basically a commodity exchange until securities exchange legislation was enacted in 1862. Sweden has recently modernized its entire securities market legislation to make it compatible with EU Directives. The Act on Stock Exchanges and Clearing Operations, passed in 1992, transformed the Exchange into a limited company. The Financial Supervisory Authority is the supervisory authority. This body overseas the activities of all financial institutions.