Summary
The “alternative” markets/segments in equity markets study provides an overview of the alternative markets/segments operated by FESE member exchanges as of the start of 2008. The trading statistics of these markets/segments are included in Table 6 of the FESE trading statistics database at http://www.fese.eu/en/?inc=page&id=10.
Findings
An “alternative” market/segment is defined as one that has different listing rules than those of the main market. The study demonstrates that 15 Regulated Markets operate alternative markets or segments. For each market/segment the study provides the following information:
- Starting date of trading in the market/segment.
- Type of market/segments: Regulated Market (RM) or MTFs according to MiFID terminology.
- Major differences with the main market of the Regulated Market.
Conclusions
- The structure of “alternative” market/segments in European equity markets is diversified.
- These markets/segments are dedicated to different types of trading (SMEs, Investment companies, technological companies, etc.)
- These “alternative” markets/segments generally have less strict listing requirements aimed at capturing an alternative issuer profile.
Download the complete study from http://www.fese.eu/en/?inc=art&id=8
