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Prague Stock Exchange in Brief PRAGUE STOCK EXCHANGE Established in 1993 Full member of the Federation of the European Securities Exchanges The U.S. SEC officially granted the status of a "designated offshore securities market “ to the Prague Stock Exchange

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Prague stock exchange in brief l.jpg

Prague Stock Exchange in Brief


Prague stock exchange l.jpg

PRAGUE STOCK EXCHANGE

  • Established in 1993

  • Full member of the Federation of the EuropeanSecurities Exchanges

  • The U.S. SEC officially granted the statusof a"designated offshore securities market“ to the Prague Stock Exchange

  • Correspondent of the World Federationof Exchanges

  • Market capitalization 2008: EUR 41bn

  • Trade value - shares 2008: EUR 34bn

  • PX group operates regulated, free unregulated, derivative and commodity market

  • Share of 99,5% on the Czech capital market

  • Market capitalization and trade value - shares (EURm):

    ■ Market capitalization

    – domestic issues

    ■ Market capitalization

    – foreign issues

    ■ Trade value

    – domestic issues

    ■ Trade value

    – foreign issues

INTRODUCTION


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PRAGUE STOCK EXCHANGE

  • European Indices – Annual Changes in 2008

  • PX Index –Overall Development

OMXSt

-38,8%

FTSE 100

-31,3 %

WIG20

-51,1%

DAX

-40,4%

PX

-52,7%

SAX

-42,0%

Euronext 100

-45,2 %

SMI

-34,8%

ATX

-61,2%

BUX

-53,3%

BET

-70,5%

S&P/MIB

-49,5%

SOFIX

-79,7%

IBEX 35

-39,4%

  • PX Index

    • The official blue chip price index of share issues at the Prague Stock Exchange

    • Updated 4 times a year, the frequency of the calculation is 15 seconds

EXCHANGE INDICES


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PRAGUE STOCK EXCHANGE

KEY ANNUAL DATA


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PRAGUE STOCK EXCHANGE

PRAGUE STOCK EXCHANGE – PSE

The organiser of

the securities market

CLEARING AND SETTLEMENT - UNIVYC

Clearing and settlement

of trades in securities

and electricity

PRAGUE ENERGY

EXCHANGE – PXE

The organiser of

the electricity market

CENTRAL

COUNTERPARTY – CCP

Counterparty to every trading

participant in concluding trades

in electricity

CENTRAL CLEARING

COUNTERPARTY – CCC

Counterparty to every trading

participant in concluding trades

in electricity - supply in Slovakia

ENERGY CLEARING

COUNTERPARTY – ECC

Counterparty to every trading

participant in concluding trades

in electricity - supply in Hungary

PX GROUP


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Privately held joint stock company operating on membership principle

Major shareholder is the Vienna Stock Exchange

Property relation of the sock exchanges in Prague(Czech Republic), Vienna (Austria), Budapest (Hungary), Ljubljana (Slovenia)

Currently 21 experienced members:

PRAGUE STOCK EXCHANGE

SHAREHOLDERS AND MEMBERS


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PRAGUE STOCK EXCHANGE

  • Number of retail investors - 5,000 in 2004 up to 50,000 in 2009

  • Monthly trade value of equity trading - CZK 20bn ( EUR 833m)

  • The „retail“ investors at PSE are rather „high net worth individuals“

  • Fast growing online brokers

  • Members are offering margin trading

  • The latest IPOs have shown a great investment appetite of the retail

POWERFUL RETAIL


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SPAD - Quote driven trading module with market makers

Trading with blue chips

High liquidity, low volatility

Trading in lots

Attracting and keeping liquidity in case of dual listings

Automatic Trades (Auction and Continual Regime) - Order driven trading module

Continually sent buy and sell orders

PRAGUE STOCK EXCHANGE

  • PSE is an electronic exchange

  • Own business platform

    • great flexibility

TRADING MODULES


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PRAGUE STOCK EXCHANGE

  • The Exchange Guarantee Fund

    • Guarantee Fund for automatic trades

    • Guarantee Fund for SPAD

    • Fund for Derivatives Trades

  • Inspection Activities

    • Continuous surveillance

    • Analytical monitoring, the analysis of stock exchange trading system data

    • Simple and transparent formal procedures

    • In-depth inspections

SAFETY


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PRAGUE STOCK EXCHANGE

  • Harmonisation of legislation within the EU

  • The disclosure obligation is standard and common for both domestic and foreign issuers - Czech or English

  • No listing fee

  • 1 year fee holidays for new issues - IPO manager

  • No annual fee for issuers on the free market

  • Passportisation

  • Conditional trading

APPROACH


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PRAGUE STOCK EXCHANGE

  • PXE, the Prague Energy Exchange is a new business platform for trading with electricity in the Czech Republic, founded by PSE

  • Liquid and transparent market, fair pricing for electricity

  • The PXE enables both spot and derivatives trading through its own electronic trading platform

    • On the derivatives market - day, month, quarter and year contracts

      • Base Load, Peak Load

    • The spot market enables trade in hour contracts

  • OTC clearing

  • PXE hybrid trading system - Order driven with market makers

    • Transparency, liquidity, anonymity

PRAGUE ENERGY EXCHANGE


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PRAGUE STOCK EXCHANGE

  • A new TV programme called „Studio Burza“ right from PSE‘s headquarters

    • News from capital markets three times a day

    • on ČT24 channel or on the Czech TV web pages

  • PSE endeavours to develop Czech capital market and supports discussions relating tocapital market

  • Corporate responsibility

    • Partner of the newly established Unicorn College, which specializes in information and communication technologies and management

    • PSE supports children‘s homes

  • Dissemination of Exchange information

    • A continuous and free stream of information with a 15-minute delay

    • Final results of tradingevery day and selected statistical data for free

    • Professional - data in real time or the trade results

PUBLIC RELATIONS


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