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Boerse Stuttgart has taken on a pioneering role among German stock exchanges. Its Bondm trading segment is specially designed to meet the needs of small and medium-sized enterprises. So far the Stuttgart Stock Exchange has admitted eight bonds with a total volume of EUR 730 million to its new SME segment.
The order book turnover for all Bondm-listed companies in the secondary market has risen to almost EUR 290 million since the segment was launched in May. With its high standards of quality in the secondary market, Boerse Stuttgart offers private investors liquidity and the greatest market transparency in bond trading. To that end Boerse Stuttgart not only follows strict rules, such as the Best Price Principle or the Best Size Principle, but also publishes prices, valuations and corporate information for investors on an ongoing basis.
More and more small and medium-sized enterprises are discovering the bond market as an additional source of finance. Many SMEs have already enquired about issues in 2011. "We expect this development to continue next year as the economic upturn is leading to an increased need for capital among many small and medium-sized companies. Our pipeline for the first quarter of 2011 is already well filled," says Christoph Lammersdorf, CEO of Boerse Stuttgart Holding GmbH.
With Bondm, Boerse Stuttgart addresses the needs of SMEs who require financing in the range of around EUR 25 to 150 million. Previous issuers in the Bondm SME segment include companies such as Dürr AG, Solarwatt AG and Air Berlin. The most recent addition to the Bondm segment is 3W Holdings S.A. / AEG Power Solutions. Boerse Stuttgart plans to expand its successful SME segment even further next year. In the meantime other stock exchanges are following suit. "The fact that other market segments are following our example plays testimony to Boerse Stuttgart's innovativeness and creativity," comments Christoph Lammersdorf.
