First Quotation Board

Part of the Open Market segment, scheduled to be closed by 15 December

The First Quotation Board is a more tightly regulated part of the Open Market segment at Frankfurter Wertpapierbörse (FWB ®, the Frankfurt Stock Exchange). All companies with an initial listing in the Open Market were included in the First Quotation Board, i.e. they had not been admitted to any other trading venue or included in trading at the time of listing.

The First Quotation Board has been available since 2008 with the aim to provide easier access to the stock exchange especially for small and medium-sized companies. As transparency requirements were low, there was an increasing number of suspected cases of market manipulation, so that Deutsche Börse has decided, in close coordination with the stock exchange regulator of the state of Hesse and the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) to close the First Quotation Board in its present form by 15 December 2012. No further companies have been included in the First Quotation Board since February 2012.

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