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Apply for permission to establish a stock exchange

Service Description

The Exchange Supervisory Authority may allow you to establish an exchange upon application. To do so, you must meet various requirements and provide evidence of these. The permission to establish an exchange is limited to the federal state in which you plan to operate the exchange.

The regulations of the Stock Exchange Act (BörsG) must be observed.

Process flow

  • They submit the required documents to the exchange supervisory authority.
  • The competent exchange supervisory authority is the authority in the state in whose territory the exchange is to be located. For Thuringia, this is the Thuringian Ministry of Finance.
  • The exchange supervisory authority examines whether the requirements for the admission to listing are met. Additional information may be required if necessary.
  • Permission or refusal by the exchange supervisory authority is given in writing by mail.
  • A permission expires if the Exchange does not start its operation within one year.
  • The Exchange Supervisory Authority may subsequently impose conditions on a permit or cancel it.

Who should I contact?

Contact the Thuringian Ministry of Finance as the state's stock exchange supervisory authority.

Requirements

The application for permission must be submitted in writing to the Thuringian Ministry of Finance. The requirements can be found in the Stock Exchange Act (BörsG).

For the examination, the Exchange Supervisory Authority may require further information.

Which documents are required?

  • Proof of funds required for the operation of the Exchange;
  • The names of the managing director(s) of the operating entity of the Exchange, as well as information necessary for assessing the reliability and professional qualification of these persons;
  • A business plan indicating the type of planned transactions and the organizational structure and planned internal control procedures of the Exchange operating entity, as well as the Exchange's rules and regulations;
  • Information on the ownership structure of the Exchange operating entity, in particular on the owners of significant shareholdings as defined by the Exchange Act and their shareholding amounts;
  • information necessary for the assessment of the reliability of the holder of significant shareholdings.
    If the holder of a significant participation is a legal entity or a commercial partnership, the facts essential for assessing the reliability of its legal or statutory representatives or personally liable partners shall be provided.

The Exchange Supervisory Authority may request the submission of further documents.

What are the fees?

  • In accordance with the Thuringia Administrative Costs Act, fees are charged depending on the scope of the audit.

What deadlines do I have to pay attention to?

After the permit is issued, you have one year to set up the exchange, otherwise the permit expires.

Processing duration

The processing time of the Exchange Supervisory Authority depends on the type and scope of the application submitted.

Legal basis

What else should I know?

The obligations of the exchange operating company result from the Stock Exchange Act.

Author

The text was automatically translated based on the German content per DeepL.

Technically approved by

Thuringia Ministry of Finance

Professionally released on

05.01.2022

Source: Zuständigkeitsfinder Thüringen (Linie6Plus)

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