The market segmentation allocates the financial instruments traded on the markets of Wiener Börse AG according to certain criteria to market segments.

The allocation criteria to the different market segments is determined by:

  • Markets (Official Market, Second Regulated Market, Third Market)
  • Type of financial instrument (shares, participation certificates, bonds, certificates etc.)
  • More stringent reporting, quality and disclosure requirements
  • Type of liquidity provider (Specialist, Market Maker etc.)
  • Trading system and type of  trading

The obligations of issuers stipulated by the Stock Exchange Act are not affected by the new market segmentation.

Trading in financial instruments on the Third Market does not require any formal admission procedures to the exchange. The requirements of the Stock Exchange Act regarding a formal admission of financial instruments to trading on a regulated market and the obligations imposed on issuers on a regulated market shall not apply to the financial instruments traded on the Third Market. However, the provisions of the Market Abuse Regulation (VO (EU) Nr. 596/2014) and the obligations imposed on issuers according to Articles 48d Abs 1 Z 2 to 4 and 82 Abs 5 Stock Exchange Act as well as the Articles §§ 48c, 48m and 48n Stock Exchange Act shall also apply to MTFs and thus to the Third Market.

Market segments

The financial instruments traded on the markets of Wiener Börse AG are grouped into the following segments:

Market segmentation of Wiener Börse AG
The volume of Austrian shares traded on the Vienna Stock Exchange is about five times larger than on Bats Trading

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