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Term · Market & Classification

Scale Segment

Core
In briefThe Scale segment belongs to Deutsche Boerse's Freiverkehr (Open Market) but requires additional transparency from smaller and mid-sized firms. These extra obligations are regarded as a positive sign compared with the plain Open Market.

Definition

A sub-area of Deutsche Boerse's Freiverkehr (Open Market) with heightened transparency requirements for small and mid-sized companies.

How it is calculated

Formula. Not a metric - an admission segment with its own transparency rules (including audited financial statements and an ad hoc disclosure obligation).

Why it matters for small caps

Many German small caps are listed in the Scale segment - the additional obligations that apply there are a positive signal compared with the plain Open Market.

Common misreadings

  • It is mistakenly equated with the regulated market, but it remains part of the privately governed Freiverkehr (Open Market).

In the process

→ Used in Step 1 – Quick test

Frequently asked

What is the Scale segment?
It is a stock-exchange segment within the Freiverkehr (Open Market) with its own heightened transparency rules. These include, for example, audited financial statements and ad hoc disclosure obligations.
Why is the Scale segment relevant for investors?
Many German small caps are listed there, and the additional obligations improve the information available. That makes analysis easier than in the plain Open Market.
Does the Scale segment belong to the regulated market?
No, it remains part of the privately governed Freiverkehr (Open Market). Anyone who equates it with the regulated market overestimates the legal framework.

Related terms

Freiverkehr (Open Market)Prime Standard

Sources

Primary
Methodology
Category: Market & Classification · Exchange SegmentsRelevance: CoreJurisdiction: Germany

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