New market / Securities and stock exchange

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Page modified: wtorek, lipiec 12, 2011 14:28:27

The new market was a segment of the German stock exchange, which 1997 with the goal were furnished of offering to recent enterprises a possibility of the equity financing over a stock exchange course. The first two shares acted at the new market were from Bertrandt (engineer services) and Mobilcom (telecommunications). Model for the new market was the American technology stock exchange NASDAQ.

The new market registered a rapid growth in the years 1997 to 2000: on the high point more than 300 enterprises were in this segment listed.

Already on 1 July 1999 the German stock exchange decided the introduction index to the new market, which was called NEMAX 50. The index was reckoned back by 30 December 1997 and its initial value was specified on 1000 points.

In the course of the euphoria around those new Economy and seeming like an explosion growth particularly within the range of the Internets (Dotcom blister) the NEMAX up to 9631 points rose to 10. March 2000.

Parallel to the development at the international stock exchanges the quotations fell starting from March 2000 also at the new market. Starting from 2001 the downward movement additionally strengthened by numerous scandals with individual listed enterprises. The NEMAX reached already on 9 October 2002 a value of only more 318 points and in only 31 months over 96 per cent of its value (over 200 billion euro) had thus lost. Many shares, which noted for the high point of the speculation blister in March 2000 still at a value of partly more than 100 euro, appeared as so-called of penny stick.

About at the same time the German stock exchange decided a fundamental new segmenting within the share range, which the segment new market fell to the victim. The segment was closed 2003. When successor of the NEMAX 50 became the TecDAX installed, which consists of only more 30 (instead of 50) values and is officially computed since March 2003. Most of the values contained at first in the TecDAX were however already members of the NEMAX 50. In order to guarantee continuity particularly with the completion from derivatives to, the NEMAX 50 until 17 December 2004 was calculated. Both TecDAX and NEMAX 50 could themselves recover since March 2003 from their lowest points.

The NEMAX 50 built itself up at the time of its final attitude on 17 December 2004, from the following corporations: