Term · Market & Classification

Quotation Board

SpecialistAlso: Quotation Board (Frankfurt)

In briefThe Quotation Board is a sub-segment of the Frankfurt open market into which securities already listed elsewhere are merely admitted to trading. The issuer typically assumes no reporting obligations of its own vis-à-vis the exchange; liquidity and transparency can be very low.

Definition

The Quotation Board is a sub-segment of the open market at the Frankfurt Stock Exchange for securities that are already listed on another domestic or foreign exchange and are merely admitted to trading. In this segment the issuer typically does not assume any ongoing obligations of its own vis-à-vis the Frankfurt exchange. It serves primarily to make already-listed securities tradable.

Why it matters for small caps

For small investors, it is important that the Quotation Board often produces no additional transparency from the issuer and that trading activity can be very low. Such securities require particular caution regarding liquidity and the information situation.

Common misreadings

Admission to the Quotation Board is misunderstood as a full stock exchange listing with extensive issuer obligations, even though scarcely any ongoing obligations exist there.

In the process

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Frequently asked

How does the Quotation Board differ from the Basic Board?

In the Quotation Board, securities already listed elsewhere are admitted, whereas the Basic Board is intended for issuers originally admitted there with their own obligations.

Are there issuer obligations in the Quotation Board?

Typically there are scarcely any ongoing obligations of the issuer's own vis-à-vis the Frankfurt exchange; the obligations at the home market are decisive.

What should investors pay attention to?

Often low liquidity and limited transparency, because the issuer here usually provides no additional information.

Sources

Primary

Deutsche Börse – Freiverkehr Frankfurt
https://www.deutsche-boerse.com/

Category: Market & Classification · Market segmentRelevance: SpecialistJurisdiction: Germany

Education only, not investment advice. Ranges and thresholds are didactic orientation values, not an official standard.