What Is the Vienna Stock Exchange (WBAG)?
Let me tell you directly: the Vienna Stock Exchange is Austria's only securities exchange, and it also runs the market data hub for Central and Eastern European markets. It's operated by Wiener Börse AG, a company that positions itself as customer- and market-oriented, playing a crucial role in Austria's capital market.
Beyond that, the exchange manages the securities market and the Energy Exchange Austria (EXAA), which is a key Central European energy exchange based right here in Vienna.
Key Takeaways
- Founded in 1771, the Vienna Stock Exchange stands as Austria's sole securities exchange and one of the oldest globally.
- Trading hours run Monday through Friday from 8:55 a.m. to 5:35 p.m.
- As of June 2020, it featured a market capitalization over 90 billion euros, 85 trading members, 117 ETFs, and more than 140 indices.
Understanding the Vienna Stock Exchange (WBAG)
You should know that the Vienna Stock Exchange handles Austria's equity and bond markets, along with trading in structured products. It also offers services like index development and management, plus financial market seminars and training. Remember, trading is scheduled Monday to Friday from 8:55 a.m. to 5:35 p.m.
In terms of scale, as of June 2020, the exchange had a market cap exceeding 90 billion euros, with 85 trading members, 117 ETFs, and over 140 indices.
The exchange takes corporate social responsibility seriously—it's integrated into their business with a dedicated CSR policy aimed at supporting Austria's environmentally, socially, and economically sustainable development. Their two main strategic goals are straightforward: first, to bolster the home market and promote investment culture in Austria; second, to expand their cooperation network in Central and Eastern Europe, drawing international investors to local markets there.
According to the exchange, their operations rest on five core pillars: securities trading and listing, market data, index calculation, IT services, and Central Securities Depository.
History of the Vienna Stock Exchange
Founded in 1771 by Empress Maria Theresa, the Vienna Stock Exchange ranks among the world's oldest. In its early days, it served as a venue for trading bonds, bills of exchange, and foreign currencies. Shares didn't enter the picture until 1818, with the Austrian National Bank as the first listed corporation.
World War I forced the exchange to close until late 1919. Post-war, it saw a strong revival that abruptly ended in March 1934 amid the global economic crisis and bank collapses—though interestingly, the 1929 U.S. Stock Market Crash had minimal impact here.
In 1938, Austria's incorporation into the Deutsche Reich stripped the Wiener Börse of its independence, with limited trading continuing until near the end of World War II.
After the war, it reopened in 1948. The stock market lagged, but the bond market picked up in 1952 and grew steadily until 1985, when an American analyst highlighted the Austrian capital market's potential, sparking a stock boom.
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