🇩🇪Germany

Hohe Due-Diligence-Kosten bei Börsenzulassung

3 verified sources

Definition

New listing applications on Frankfurt Stock Exchange require detailed due diligence, audited financial statements per IFRS for last two years, and prospectus approval by BaFin, driving significant legal and audit expenses.

Key Findings

  • Financial Impact: €100,000+ in advisory/legal fees per listing application (based on minimum market cap €1.25M and two-year audit requirements)
  • Frequency: Per listing application
  • Root Cause: Manual compilation of financial data, audits, and regulatory filings without digital standardization

Why This Matters

This pain point represents a significant opportunity for B2B solutions targeting Securities and Commodity Exchanges.

Affected Stakeholders

CFO, Compliance Officer, Legal Counsel

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Financial Impact

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Current Workarounds

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Methodology & Sources

Data collected via OSINT from regulatory filings, industry audits, and verified case studies.

Evidence Sources:

Related Business Risks

Verzögerungen durch manuelle Prüfungen

20-40 hours per application in manual due diligence (industry standard for regulatory filings)

Data Act Verstoßstrafen bei Datenlizenzierung

Fines up to €10M or 4% annual turnover; switching fee abolishment costs €50,000+ per client

Fehlende Rechnungsstellung für Mindestgebühren

€2.52 unbilled per missed order; 0.96-5.04 BP on order value for larger trades

Jährliche Listing-Gebühren Verzug

Annual fees variable by market cap (quarterly installments); typical €10,000+ per listed company

Bußgelder bei HFT-Zirkuitbrecher-Verstößen

€50,000-€500,000 per violation in excessive usage fees; minimum €5,000+ statutory fines

Risikoüberlastung und unbefugte Handelslimits

€1.5-3M per firm per halt event; 1-2% P&L loss from exposure breaches

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