The Prague Stock Exchange or PSE (Czech: Burza cenných papírů Praha, a.s. or BCPP) is the Czech Republic's main securities market. Although Prague's first exchange opened in 1861, the present-day PSE was established on November 24, 1992, and trading started on April 6, 1993.
The Exchange is based on a membership principle that means only licenced securities traders who are Exchange members have access to the Exchange trading system. Through its members, the Exchange organizes the supply of and demand for listed securities, investment instruments, and other capital market instruments allowed by the Czech National Bank.
All activities of the Exchange and its members are under the regulation and surveillance of the Czech National Bank. The security and reliability of Exchange trading is provided for by an internal legislative framework (Exchange rules) which are fully harmonised with EU standards. The settlement of trades concluded on the Exchange is ensured by the Exchange subsidiary Central Securities Depository Prague. Trading is secured by the Exchange Guarantee Fund.
The Exchange offers its clients two basic trading systems:
- Trading system SPAD for large and medium investors;
- Trading modules auction and continual for small investors.
The Exchange trades (SPAD - open phase) from 09:15am to 04:20pm, Monday to Friday; it is closed on Saturdays, Sundays, and holidays declared by the Exchange in advance.
Famous quotes containing the words stock and/or exchange:
“And anyone is free to condemn me to death
If he leaves it to nature to carry out the sentence.
I shall will to the common stock of air my breath
And pay a death tax of fairly polite repentance.”
—Robert Frost (1874–1963)
“I sometimes feel a great ennui, profound emptiness, doubts which sneer in my face in the midst of the most spontaneous satisfactions. Well, I would not exchange all that for anything, because it seems to me, in my conscience, that I am doing my duty, that I am obeying a superior fatality, that I am following the Good and that I am in the Right.”
—Gustave Flaubert (1821–1880)