Börse Kopenhagen

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 Copenhagen Stock Exchange
Börsensitzung 9:00 Uhr bis 16:55 Uhr Ortszeit
Versammlungsart Parkettbörse (Präsenzbörse)
Börsenart geregelte Finanzbörse
Kursnotiz Stück- und Prozentnotiz
Börsenwährung Euro
Limitarten Betrag
Mögliche Limitzusätze -
Mögliche Gültigkeiten bis max. 90 Tage
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
30. März Daylight Savings Begins
17. April Maundy Thursday
18. April Good Friday
21. April Easter Monday
16. Mai General Prayer Day
29. Mai Ascension
9. Juni Whit Monday
5. Juni Constitution Day
26. Oktober Daylight Savings Ends
24. Dezember Christmas Eve
25. Dezember Christmas Day
26. Dezember Boxing Day

Bitte beachten Sie auch die Orderrichtlinien!

Kobenhavns Fondsbors
(Copenhagen Stock Exchange)
6, Nikolaj Plads
PO Box 1040
DK-1007 Copenhagen, Denmark
Telephone: 45 33 93 3366
Fax: 45 33 12 8613

9:00am to 5:00pm - Monday to Friday


The open outcry market in Copenhagen was replaced in September 1988 by an electronic trading system called ELECTRA. The system is decentralized and takes place from the offices of the stock broking companies. Current quotations are available throughout the day. The electronic system consists of three trading systems, a reporting system, and a trade support system.

The match system is an automatic trading system based on continuous individual matching. A match is made when a bid or offer entered into the system equals or is higher than one or more offers or bids already entered in the system. The bids and offers must be in multiples of trading lots.

The acceptance system is like an electronic notice board on which stock exchange members are able to see all bids and offers for any issue. A transaction is concluded when a dealer accepts one or more of the offers or bids registered in the system. When the transaction is complete, the offer is automatically deleted from the register of offers.

The electrobroker system is a wholesale system for liquid bonds and the minimum trading volume is DKK 25 million. The electrobroker system is built like the acceptance system, except there is no identification of the broker.

The report system allows stock exchange members to freely trade on the telephone market. However, members must report transactions in listed securities within 90 seconds. This ensures the market obtains knowledge of the total volume traded.

The electronic trade support system allows members to state either price or volume. Deals are made over the phone and must be reported within 90 seconds. Information about the transaction is disseminated via the trading and information systems. The electronic trade support system for block trades is available only to members.


Settlement for shares and bonds takes place three days after the transaction (T+3). Share and bond transactions are settled through the Danish Securities Centre. Same-day settlement for futures and options takes place through the Danish FUTOP clearing centre. The addresses for the clearing houses are:
Danish Securities Centre
Helgeshoj alle 61
PO Box 20
DK-2630 Taastrup
phone: 45 43 58 88 88
fax:   45 43 71 20 03

FUTOP Clearing Centre
Nytorv 5
PO Box 2017
DK-1012 Copenhagen K
phone: 45 33 93 33 11
fax:   45 33 77 01 01


Ordinary and preference shares are traded on the Exchange. Most companies prefer to call these shares A and B. A shares usually have full voting
rights and also can appoint one or two board members. B shares have no voting rights or less voting rights. Shares are issued in bearer form but shareholders have the right to have ownership entered in the share register in their own name. Convertible bonds are also traded on the Exchange and are listed together with ordinary bonds.


For a company to be listed on the Copenhagen Stock Exchange the committee of the Exchange must deem listing of the security to be in the public
interest and the volume must be large enough to permit regular turnover.


Public companies must file preliminary accounts with the Copenhagen Stock Exchange which must include information regarding profits and loss statements, dividend proposals, proposals for increase in share capital, and any other important proposals. Interim reports and balance sheets must also be filed with the Exchange. A company must also make available to the public all information that may affect the value of their securities.


Commissions collected by brokers as the result of the sale of shares are a matter of negotiation between broker and client, but usually range from
.025% to .15% of market value.


Dividends are subject to a 30% withholding tax. This rate may be reduced for non-residents by a double-taxation treaty. There is no taxation of interest
payments and capital gains on bonds for individuals and non-financial businesses. Capital gains on the sale of shares held by individuals for less than
3 years are, for residents, taxable as capital income, with an income taxrate between 50% and 56%. If the shares have been held for more than 3 years, a capital gain is taxed at a rate between 30% to 40%.

The Stamp Duty charges on sale of shares, have been eliminated as of October 1, 1999.


Non-residents can freely make direct investments in Denmark, remit profits and dividends and repatriate capital. Non-residents may also open bank
accounts in Denmark and deposits can be made in any currency.


The Copenhagen Stock Exchange Total Share Index is a weighted index which comprises all shares traded on the Exchange. There are also 6 sector indices calculated on the same basis as the Total Index. The KFX Index consists of the 20 most liquid shares traded on the Exchange.


Dealing in securities in Denmark dates back to the late 17th century, but it wasn't until the 19th century that trading became more formalized. The
Copenhagen Stock Exchange is a non-profit, independent institution run by a management committee appointed by the Minister of Industry.