Broker Profile
Exchange Profile|
|
|
|
Global Stock Valuation |
|
|
_________________________ |
Broker Profile
Exchange Profile
| Brokerage Firm: | Online Discount Broker | ||
| Transaction Fees: | Market Orders, Limit Orders, Options | ||
| Custodial Fees: | Annual Account | ||
| Other Fees: | Services | ||
| Order Execution: | Best price available confirmed after timely execution? | ||
| Statements: | Accurate and sufficient detail to file personal income tax forms? | ||
| Time Limit for Complaints: | How long before customer loses right to seek remedies? | ||
| Arbitration: | What venue? Is it binding? |
Example Country
|
|||||||||||||
| Principal Exchange: | Frankfurt Stock Exchange (Deutsche Borse AG) | ||||||||||||
| Founded: | 1585 | ||||||||||||
| Internet Address: | www.exchange.de | ||||||||||||
| Additional Exchange(s): | Dusseldorf Stock Exchange | ||||||||||||
| Munich Stock Exchange | |||||||||||||
| Stuttgart Stock Exchange | |||||||||||||
| Hamburg Stock Exchange | |||||||||||||
| Berlin Stock Exchange | |||||||||||||
| Hannover Stock Exchange | |||||||||||||
| Bremen Stock Exchange | |||||||||||||
| Frankfurt DTB Deutsche Terminbörse | |||||||||||||
| Currency: | Deutschemark (DM) and Euro Dollar | ||||||||||||
| Listed Companies: | 1,622 | ||||||||||||
| Total Market Capitalization: (1998) | 1,082,197,500,000 USD September 1999 | ||||||||||||
| Major Sectors: | Banking, manufacturing, utilities, chemicals, automobiles | ||||||||||||
| Indices: | Dax German Share Index (1987 = 1,000) | ||||||||||||
| Depository: | Deutsche Kassenverein (DKV) | ||||||||||||
| Trading Hours: | Monday-Friday 6:30 to 15:00 GMT IBIS (Integrated Stock Exchange Trading and Information System) 8:30 to 11:30 GMT Floor Trading |
||||||||||||
| Trading Halts: | |||||||||||||
| Exchange Holidays: |
|
||||||||||||
| Settlement: | Shares: Trade date + 2 days (T + 2),
book-entry form (can also handle settlements of real-time to T + 40). |
||||||||||||
| Types of Settlement: | Transactions in German and Swiss securities are settled with DVP and Cross-border cash settlements. | ||||||||||||
| Types of Orders: | Limit Orders and Non-limit Orders, Stop Orders and Stop Loss Orders, Opening Price and Closing Price Orders | ||||||||||||
| Limit Order Periods: | Day Order, Valid until a Specified Date, Stop Orders | ||||||||||||
| Security Identification: | Federal Securities Supervisory Office (BAWe), Exchange Market Supervision Board, State Supervisory Authority | ||||||||||||
| Investor Taxation: | Dividends paid to shareholders are subject
to 25% with holding tax. Shareholders from countries with
a tax treaty are entitled to a refund on with holding
tax. Capital gains tax is levied on foreigners. Unless, foreign shareholders have held (directly or indirectly) more than 25% of a German corporation's shares for more than a five-year period. Foreign shareholders owning 10% or more of a German corporation's shares are subject to property tax. Most of these capital gains and property taxes are subject to reduced or zero rates. If a double tax treaty is in effect. |
||||||||||||
| Investor Protection: | The supervisory committees are the German Federal Securities Affairs Supervisory Body (BAWe), the local State Stock Market Supervisory Authority and the Stock Market Internal Trading Supervision and Monitoring Body. | ||||||||||||
| Currency Regulations: | |||||||||||||
| Security Ownership: | There are no restrictions on non-German taxpayers shareholders | ||||||||||||
| Local Market Charges: | |||||||||||||
| Description of Trading: | Computerized trading is implemented on 30
selected blue chip shares, 7 non-DAX issues, warrants,
and liquid public bonds from 8:30 A.M. to 5:00 P.M.
Integrated Stock Trading and Information System (IBIS)
had been called a "voluntary market making
system," and is primarily used by institutional
traders requiring a transparent trading system. All institutions submitting orders to an exchange are required to have a German banking license. Banks provide investment advice and serve as the investor's agent in transactions. They are also allowed to trade for their own accounts and can transact orders outside the exchange by request of the investor. Stock exchange member s include banks, official brokers (appointed by federal state government) fix the official daily price for all listed securities once each session. Liquid securities trade continuously during the session in minimum numbers of 50 shares and multiples thereof. |
||||||||||||
| Source: | Globeshare | ||||||||||||
| Disclaimer
& Policy (c) Numeraire 2000-2003. All Rights Reserved. |