Scale for equity

Scale, Deutsche Börse's segment for small and medium-sized companies, offers them access to investors and an efficient equity financing option. As an Open Market segment, it is an alternative to the General and Prime Standard segments regulated by the EU. 

Scale is designed as an entry point for the capital market. Although the admission requirements are based on the Open Market, they go beyond its conditions.

Scale offers investors access to more information and transparency: Companies must publish audited annual financial statements and a management report on their company website within six months of the end of the reporting period at the latest, as must an interim report. In addition, company news that can influence the stock exchange price must be published immediately.

The shares in the Scale segment are subject to the Market Abuse Ordinance (MAR) and are supervised by the Federal Financial Supervisory Authority (BaFin) with regard to rules on insider trading and market abuse.

Scale replaced the Entry Standard for shares in March 2017.

Investors who are active in the Scale segment must be aware that the transparency requirements are only slightly higher than in the Open Market and therefore less information is available and higher risks exist.

Publication of Research Reports

Issuers of shares and certificates representing shares in Scale must have financial analyses (research reports) prepared by a Deutsche Börse Capital Market Partner of their choice. Issuers must publish the research reports on their website. Issuers in Scale must keep the research reports published on their website for at least 24 months.

March 2022, Deutsche Börse AG