Exchange trading; application for admission as exchange participant
If a credit or financial services institution wishes to trade directly on a stock exchange, the institution requires admission as a trading participant.
In order to participate in trading as trading participants, credit institutions, financial services institutions and financial companies require admission. This is done by the management of the exchange.
Each trading participant may have an unlimited number of traders. However, a trading participant must have at least one admitted trader in order to fulfill the participation requirements for trading.
Only those persons may be admitted to participation in exchange trading who, in the case of items that can be traded on the exchange, commercially
- acquires and sells them for his own account, or
- carries out the acquisition and sale in his own name for the account of a third party, or
- undertakes the brokerage of contracts for the acquisition and sale of such items
and the nature and scope of its business operations require a commercial business.
The admission of an enterprise to participate in stock exchange trading shall be granted if it is
- Business owner or the persons who are entrusted with the management of the company's business and authorized to represent it in accordance with the law, the articles of association or the partnership agreement,
- are reliable and
- at least one of these persons has the professional qualification required for the securities or commodities business on the exchange;
- the orderly settlement of the transactions concluded on the exchange is ensured;
- the company provides evidence of equity capital of at least EUR 50,000 (except in the case of credit institutions, financial services institutions or companies operating pursuant to Section 53 (1) sentence 1 or Section 53b (1) sentence 1 of the Banking Act, which are authorized to operate the financial commission business within the meaning of Section 1 (1) sentence 2 no. 4 or to provide a financial service within the meaning of Section 1 (1a) sentence 2 nos. 1 to 4 of the Banking Act);
- in the case of the company required to provide evidence of equity capital, no facts justify the assumption that it does not have the economic capacity required for orderly participation in stock exchange trading, taking into account the evidence of equity capital.
Admission as a trading participant must be applied for in writing.
Any person who wishes to trade on an exchange and must be authorized to trade on the exchange on behalf of a trading participant requires an exchange trader license.
- Proof of personal reliability of the business owner or the person managing the business or authorized to represent the business
- Proof of professional competence of the business owner or the person managing the business or authorized to represent the company
- Proof of the required equity capital of the business (equity capital is considered to be the paid-in capital and reserves after deduction of withdrawals by the owner or personally liable partners and loans granted to them, as well as any debt overhang in the owner's free assets)
Responsible for editing:Bundesministerium der Finanzen
- Online transactions, Bavaria-wide
- Online transactions, locally limited
- Form, Bavaria-wide
- Form, locally limited
- Prefillable Form, Bavaria-wide
- Legal bases, Bavaria-wide
- Legal bases, locally limited
- Fees, Bavaria-wide
- Fees, locally limited