Börse, Wiener#
Vienna Stock Exchange (Wiener Boerse): A public stock exchange was first founded through the Stock Exchange Patent granted by Maria Theresia in 1771. After the collapse of the market on May 8, 1873, due to ruthless speculation in the Age of Promotorism (Gruenderzeit) and the serious recession that ensued, a stock exchange commissioner was installed on April 1, 1875 to supervise stock exchange practices. The Stock Exchange nevertheless retained its independence, which is guaranteed by the Stock Exchange Chamber.
After being repeatedly moved (e.g. to Palais Ferstel), the Vienna
stock exchange is now situated in the building on the Ringstrasse
built by T. Hansen from 1874-1877. From 1938-1945 the sock exchange
was subject to German law; it was closed form 1945-1948; in 1956 the
interior burnt out and was renovated in modern style by E.
Boltenstern. It was re-opened in 1959. In 1998 the Vienna Stock
Exchange relocated to Straussgasse in Vienna's 1st district.
Since November 1999 all securities have been handled on the Volume
Cash market by the Xetra® electronic trading system. New
market segmentation was introduced from the second quarter of 1999 on
the basis of liquidity and market making.
Business at the Vienna Stock Exchange is regulated by the Stock
Exchange Act of 1989, which corresponds to the relevant EU-Directives.
In 1993, the stock exchange was adapted to the standards for European
capital movement. After movement in 1997 the Vienna Stock Exchange was
turned into an Aktiengesellschaft (joint stock company) and at the
same time fused with the OeTOB (Oesterreichische Termin- und
Optionenboerse/Austrian Future- and Options Exchange), which was
established in 1991 and fully privatised in 1998.
After the Stock Exchange Chamber had been dissolved in 1998, its
functions were also taken over by the Vienna Stock Exchange company
(Wiener Boerse AG, WBAG). A cooperation agreement with the Frankfurt
Stock Exchange was concluded in 1998. Their subsidiary, New Europe
Exchange (NEWEX®) has been trading shares from Central-
and Eastern Europe from Vienna since November 2000.