The Stock Exchange
Stock exchanges are market places for capital. They serve as a trading platform for exchangeable securities which document ownership rights, particularly to company equity (shares) or liabilities (bonds). While continuous trading (secondary market) represents a significant proportion of exchange transactions, from an economic point of view, the issue of these securities (primary market) also plays a central role in corporate and sovereign financing. Major leaps in technology like the expansion of the state rail network and the development of IT and biotechnology would scarcely have been possible without risk capital from the Stock Exchange.
When the Hamburg Exchange was founded, in 1558, the focus was on goods trading, nevertheless, financial transactions and bill transactions were also carried out in parallel. The history of the Hanseatic Stock Exchange Hamburg, or the Hamburg Exchange for short, can thus be traced back over 450 years. Regular securities trading began in 1815, making the Hamburg Exchange the oldest of the eight German stock exchanges. Since 1999, the Exchange has been working with the Hanover Stock Exchange of Lower Saxony under the joint umbrella company BÖAG Börsen AG.
The innovative Hamburg Exchange has established trading in open-end investment funds as a new line of business and, now, all of the German stock exchanges are engaged in this. Moreover, the Hamburg Exchange is a market leader in the trading of closed-end funds on the secondary market and settlement is via the broker Fondsbörse Deutschland Beteiligungsmakler AG.
Of particular interest to private investors are the comprehensive price and execution guarantees, as well as services such as the weekly newsletter, investor seminars and the annual Exchange Congress in Hamburg. Further information can be found under “Service and Events”.