Börse Hamburg

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 Hanseatic Stock Exchange
Börsensitzung 9:00 Uhr bis 20:00 Uhr Ortszeit
Versammlungsart Parkettbörse (Präsenzbörse)
Börsenart geregelte Finanzbörse
Kursnotiz Stück- und Prozentnotiz
Börsenwährung Euro
Limitarten Betrag
Mögliche Limitzusätze Stop Market
Mögliche Gültigkeiten max. 360 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
18. April Good Friday
21. April Easter Monday
1. Mai Labour Day
29. Mai Ascension
9. Juni Pentecost Monday
19. Juni Corpus Christi Day
3. Oktober Day Of German Unity
26. Oktober Daylight Savings Ends
1. November All Saints Day
24. Dezember Exchange Holiday
25. Dezember Christmas Day
26. Dezember Christmas Holiday
31. Dezember Exchange Holiday

Bitte beachten Sie auch die Orderrichtlinien!

Hanseatische Wertpapierboerse Hamburg
(Hanseatic Stock Exchange)
Postfach 11 15 09
Schauenburgerstrasse 47/49
20095 Hamburg, Germany
Telephone: 40 36 13 020

9:00 am to 8:00pm Monday to Friday.

The German stock exchanges use both floor and computerized trading methods. Computerized trading, referred to as XETRA, takes place between 8:30am and 8:00pm. There is usually a minimum order of 100 for XETRA trading. XETRA is used primarily by institutional investors who require a transparent market for their transactions. Screens have been installed in the operators' offices and they can enter bids and asks into the system or accept the offers displayed on the screen, while remaining anonymous. The most actively traded shares are traded continuously throughout the day.Orders for these shares are traded in lots of 50 shares or multiples thereof.
Round lots for floor traded stocks are determined according to par. If par is 50 then the round lot will be 50. If par is 5 then the round lot will be 100. Round lots for stocks traded on Xetra are determined by security type. Domestic stocks and warrants will have a round lot of 100 and foreign stocks will have a round lot of 1.

Settlement takes place on the second business day after the transaction (T+2). Settlement has been fully computerized since 1970 and the procedure is the same for both floor and computer trading. The clearing and depository organizations are:
German Central Securities Depository:
Deutscher Kassenverein AG
Boersenplatz 7-11
D-60313 Frankfurt am Main
phone: 49 69 21 01-0
fax: 49 69 21 01-26 11

Intl Securities Clearing Centre
Deutscher Auslandskassenverein AG
Boersenplatz 7-11
D-60313 Frankfurt am Main
phone: 49 69 21 01-0
fax: 49 69 21 01-26 11

Ordinary (Stammaktien) and preferred shares (Vorzugsaktien), bonds, warrants, options, and currencies are traded on the exchange. Preferred shares may be issued with or without voting rights, but they must have a preferential right to cumulative dividends. Most German shares are in bearer form. Registered shares are usually issued by insurance companies.

A company applying for listing on the official market must fulfill the following requirements:
- An application must be filed by the issuer and a bank.
- A prospectus must be published.
- An interim report must be published.
- A minimum market value of DM2.5 million.
- A spread of at least 25%.
- The company must have been in operation for a minimum of 3 years.

All listed German companies must publish an annual report. The annual report must contain a profit and loss statement, a balance sheet, a description of business development and prospects, and a profit distribution proposal. Balance sheets and profit and loss statements must be checked by an independent auditor. Listed companies must also publish interim half-yearly reports.

Share transactions are subject to a brokerage fee as well as a commission charge payable to the bank. Bank commissions are 1% of the market value of the share transaction. The brokerage fee is .04% for DAX shares and .08% for all other shares.

Dividends are subject to a 25% withholding tax. This rate may be reduced for non-residents in tax treaty countries. Capital gains are not taxed. If a non-German investor owns over 25% of a German stock corporation, however, he is subject to German corporate or individual income taxes on capital gains earned through the sale of shares.

There are no restrictions or regulations affecting foreign investment in German securities.

The DAX Index is the most widely observed index in the German securities market. It is comprised on 30 German blue chips. These stocks are selected according to turnover and market capitalization. The broader market is represented by the DAX 100 Index. This index is comprised of the 100 most liquid shares. The MDAX Index represents the German mid-capitalization sector. It is comprised of 70 shares (the shares of DAX 100 excluding the DAX companies).

There are 8 stock exchanges in Germany including Frankfurt, Dusseldorf, Munich, Hamburg, Berlin, Stuttgart, Hanover, and Bremen. Since 1991 the Frankfurt Stock Exchange has been operated by Frankfurter Wertpapierboersen AG. In 1992 the company was renamed Deutsche Boerse AG. Deutsche Boerse AG now operates the German Stock Exchange and Futures Exchange and is responsible for the settlement of all exchange transactions in securities and futures.