Börse Budapest

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 Budapest Stock Exchange
Börsensitzung 09:00 Uhr bis 17:00 Uhr Ortszeit
Versammlungsart Parkettbörse (Präsenzbörse)
Börsenart Wertpapierbörse
Kursnotiz Stück- und Prozentnotiz
Börsenwährung Forint
Limitarten Betrag
Mögliche Limitzusätze -
Mögliche Gültigkeiten bis max. Jahresultimo
Valuta Schlusstag + 2 Werktage


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
21. April Easter Monday
1. Mai Labour Day
2. Mai Bank Holiday
9. Juni Whit Holiday
20. August St. Stephans Day
23. Oktober National Holiday
24. Oktober Bank Holiday
24. Dezember Bank Holiday
25. Dezember Christmas Day
26. Dezember Christmas Holiday

Bitte beachten Sie auch die Orderrichtlinien!


Budapest Stock Exchange (BSE)
Deak Ferenx utca 5, 1052
Budapest, Hungary
Telephone: +36 1 429 6700
Fax: +36 1 429 6800


Securities listed on equities market trade Monday to Friday:
9:00-10:00 opening period
10:00-10:05 opening match
10:05-16:30 period of free trading
10:05-16:30 period of negiotated deals


The trading system of the BSE has been modernized over the past few years $Recent changes include the implementation of the
Central Market Support System (CMSS) in March 1993 and the Fully Automated Execuption System (FAES) in March 1994 as part
of the main CMSS system. As a consequence the role of the traditional open outcry method has been reduced since most active
securities are now traded in FAES. The present mixed trading system offers a flexible trading environment where trading of particular
securities can be organized according to the needs of the market.


The deals concluded on the Budapest Stock Exchange are settled by the Central Clearing House and Depository Ltd. (KELER).
Settlement is done an a rolling basis in accordance with the priciple of mulitlateral nettings in T+3 day cycle. On the third trading
day following the transaction, KELER simultaneously debits the exchange cash accounts of the net buyers and credits that of
the net sellers.

KELER Limiteds address is:
Asboth u.9-11
1075 Budapest
phone: 36 1 269 6550
fax: 36 1 342 3539


Ordinary share, government bonds, bonds, investment certificates, compensation notes, futures, am Treasury bills are traded on the BSE.


There are two listing categories on the BSE: "listed" and "traded". The requirements for a full listing on the BSE include: nominal value
of the securities must be at least Ft 500 million; the minimum number of holders is 100; and at least 25 % or Fr 500 million of securities
must be in public hand. Listing requirements for "traded" securities are easier to meet: nominal value of securities must be at least
Ft 100 million; the minimum number of holders is 25; and at least 10 % or Ft 200 million of the securities must be in public hands. When
applying on either market, the company must declare upon application that the security to be introduced is tradeable and that the company
is not any agreement between shareholders which would restrict the free circulation of shares.


Companies must publish and file with the BSE quarterly, semi-annual an annual reports within 45 days of the end of each period. In
addition, an annual report must be filed by each listed company by May 31 containing the companies audited annual statements.


Brokerage fees for transactions in shares are in the range of 0,5 - 1,5 % but may vary depending upon the service provided and type of
security traded.


Dividends are subject to a 10 % withholding tax. Interest on securities is not taxed. Foreigners shall pay taxes according to the law of their
home country provided that country has concluded an agreement (treaty) on the elimination of double taxation with Hungary. Most such
treaties provide that the foreigner is taxable on his/her income or interest according his/his domicile, while the dividend is taxed by both
countries. In the absense of such a treaty, the foreigners are taxable both according to the Hungarian statutes and the laws of their own


There is no general restriction under Hungarian law regarding foreign investment in Hungary. Foreign purchases of shares are required to
be made in convertible currency. Foreign shareholders can only buy registered shares. If bearer shares are acquired by a foreigner, such
shares must be converted into registered shares within 3 months, or 1 year if acquired through inheritance.


The Budapest Stock Index (BUX) comprises the most liquid stock an the BSE and was introduced in 1991. In 1995, the BSE introduced and
started to publish the Central European Stock Index (CESI). The index basket currently includes 50 stock selected from the highest an most
liquid capitalisation shares officially listed on three Central European stock exchanges - Budapest, Prague and Warsaw.


After an interval of more than 40 years, the BSE reopened ist doors an June 21, 1990. The BSE is a self governing non-profit organization,
supervised by the State Securities and Exchange Supervision.