Segments & Listing RequirementsFrankfurt Stock Exchange
Understand how market segments affect company disclosures, transparency and investor research. This website is independent of the exchange.
The Frankfurt Stock Exchange operates two markets under European regulations: the Regulated Market, which is anchored in public law and meets the highest European transparency requirements, and the Open Market, a segment under private law with different inclusion and disclosure rules.
General Standard provides the statutory Regulated Market reporting framework; Prime Standard adds international transparency obligations. Scale is an SME growth segment within the Open Market. Investors should check the current rules and each issuer’s disclosures rather than infer risk or liquidity from a segment name.
Official reference: Deutsche Börse markets and segments. See our sourced comparison for detailed requirements.
Prime Standard
Regulated Market with additional international transparency obligations
Admission Requirements
- •Regulated Market admission requirements apply
- •Approved prospectus unless an exemption applies
- •Additional Prime Standard application
Post-Admission Obligations
- •German and English financial reporting
- •Quarterly statements for Q1 and Q3
- •Financial calendar and analyst conference
- •Inside-information disclosure duties
General Standard
Regulated Market with statutory European disclosure requirements
Admission Requirements
- •Admission under applicable exchange rules and German law
- •Approved prospectus unless an exemption applies
- •Issuer and eligible institution jointly apply
Post-Admission Obligations
- •Annual and half-yearly financial reports
- •Inside-information disclosure
- •Voting rights and managers’ transaction notifications
Scale
SME growth segment within the exchange-regulated Open Market
Admission Requirements
- •Inclusion under current Open Market terms
- •Application with a Deutsche Börse Capital Market Partner
- •Inclusion document or approved prospectus where applicable
Post-Admission Obligations
- •Annual and interim reporting
- •Research obligations under segment terms
- •Inside-information disclosure under MAR
Open Market
Exchange-regulated market, legally distinct from the EU Regulated Market
Admission Requirements
- •Private-law inclusion terms apply
- •Check the instrument’s specific segment and documentation
- •Public offers may independently require a prospectus
Post-Admission Obligations
- •Duties depend on the instrument and segment
- •Market abuse rules remain relevant
- •Review issuer information and current exchange terms
Research the Rules Behind a Stock
Compare disclosure obligations and official sources before evaluating an investment.
Read the Market Segment Comparison