Please wait…


History of the Frankfurt Stock Exchange

11th - 17th century: Fairs, coins and bills of exchange

11. bis 17. Jahrhundert: Messen, Münzen, Wechselbriefe

 

The roots of FWB® Frankfurter Wertpapierbörse (Frankfurt Stock Exchange) go back to the period of medieval fairs. The Frankfurt autumn fair is first mentioned during the Assumption holiday in the year 1150. The autumn fair is believed to have had its origin in the 11th century as a harvest fair. Since the year 1330, when Emperor Ludwig the Bavarian expanded this privilege to include a spring fair as well, the city became an important center for commercial and monetary transactions. As a result of the trading activity during the fair, the manufacture of goods on order gradually developed into merchandise production for an open and nationwide market.

Already at the beginning of the sixteenth century, due to its well-known fairs Frankfurt had become so prosperous that Luther termed the city "the silver and gold hole" of the German Empire. Through the immigration to Frankfurt of Dutch and French merchants who had been persecuted because of their Protestant belief, during the sixteenth century wholesale commerce and the banking sector also became established in Frankfurt. Merchants from all over Europe came to Frankfurt in order to engage in trade.Since there was still no single currency either in Europe nor in the German Empire, and the various countries fell apart into numerous small economic regions with their own monetary systems, payment was based on a large variety of coins. Because of this, monetary transactions in Frankfurt proved to be extremely troublesome. The confusing abundance of means of payment and the free exchange rates made it easy to engage in usury and swindles. To counter the deterioration of coinage, merchants at the fair met in 1585 in order to establish uniform exchange rates. Today, this event is regarded as the moment of the Frankfurt Stock Exchange's birth. 

From that day on, during the fair a group of merchants met periodically to update the uniform and binding exchange rates for transactions in notes and coins. In German, the name Burs or Börse (the equivalent of the French bourse) was documented in writing as a designation for this meeting as early as in 1605.

The German term Börse (and French bourse) come from the fifteenth century, from the Belgian city of Bruges. The word described a periodic meeting of rich Italian traders at ter buerse plaza – a market place that was named after the patrician family Van der Beurse, who had lived there (Lat. bursa = "bag" or "change purse").

The first official exchange list, which presented the average prices for twelve denominations of currencies, appeared in 1625. The oldest exchange list from the Frankfurt Stock Exchange that still exists dates from the year 1721. The list already contained exchange rates for 16 coinage types. Initially, the meetings continued to be held on the open field in front of the Frankfurt town hall. It was only in 1694/95 that the traders moved to the Großer Braunfels building at the Liebfrauenberg, thereby selecting the city's most important and spacious building as their fixed meeting place.

In 1682, the first Exchange Rules and Regulations were enacted, which led to the establishment of an official stock exchange administration. Initially, only trading in bills of exchange was undertaken on the Frankfurt Stock Exchange.

The following Disclaimer and Information has been prepared by Voltabox AG (the “Issuer”) for the purpose of publishing THE securities prospectus by the issuer. Deutsche Boerse AG does not assume any responsibility for the content of the issuer`s Disclaimer and information.

 

Important Information


 

The information contained on the following web pages is directed only at persons who are resident of or domiciled in the Federal Republic of Germany (“Germany”) or the Grand Duchy of Luxembourg (“Luxembourg”). The following information does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities. No offer of securities of the Issuer is being, or will be, made to the public outside Germany and Luxembourg. The offer in Germany and Luxembourg is being made solely on the basis of the securities prospectus (including any amendments thereto) which has been approved by the German Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and which has been published on the Issuer’s website. Any investment decision regarding the publicly offered securities of the Issuer should only be made on the basis of the securities prospectus. The securities prospectus is available free of charge from the Issuer (Artegastraße 1, 33129 Delbrück, Germany; Tel.: +49 (0)5250 9930-900; Fax: +49 (0)5250 9762-102) and on the Issuer’s website (www.voltabox.ag).



The information contained on the following web pages is not an offer of securities for sale or a solicitation of an offer to purchase securities in the United States of America (“United States”), Canada, Australia or Japan. The Issuer’s shares, and the securities offered in the course of the offer, have not been and will not be registered under the US Securities Act of 1933, as amended (“Securities Act”), or with any other securities regulatory authority of any state or other jurisdiction of the United States and may not be offered, sold or delivered within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Issuer does not intend to register the offer or parts thereof in the United States or make an offer to the public in the United States, Canada, Australia or Japan.



The information contained on the following web pages is not for distribution to persons who are located in the United States, Canada, Australia or Japan or any other jurisdiction where the offer of the securities to the public is not taking place. Any violation of these restrictions may constitute a breach of the securities laws of these countries. The copying, forwarding or other transmission of the content of the following web pages is prohibited.

By clicking the "I AGREE" button below, you warrant that (i) you have read and accepted the foregoing information and restrictions in full and (ii) you are a resident of or domiciled in Germany or Luxembourg, and (iii) you agree not to distribute or forward the information contained on the following web pages to any person who is not a resident of or domiciled in Germany or Luxembourg.

 


We regret that, due to regulatory restrictions, we are unable to provide you with access to the following web pages.