Prague Stock Exchange

Name

Prague Stock Exchange

Legal name

Burza cenných papírů Praha, a.s.

Website

https://pse.cz

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Securities Exchange

NAICS

Securities and Commodity Exchanges (523210), Securities and Commodity Exchanges (52321), Securities and Commodity Exchanges (5232)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Primary Listing Stock Exchanges (FSAFAAAA)

akta.pro secondary industries

Fixed Income Electronic Trading Platforms (Bonds/Credit) (FSAFANAB), Multi-Asset Auction & Periodic Matching Platforms (FSAFAEAK)

Keywords

• Securities exchange
• Equity listing
• Market data distribution
• Bond trading
• Stock exchange indices

Headquarters

HQ city

Praha

HQ country

Czechia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Market Data Dissemination: Revenue from selling market data and information to subscribers. Connected to unified trading data distribution system operated by Vienna Stock Exchange, part of largest data distribution channel in Central and South-eastern Europe. Data distributed in real-time through ADH data feed and approved data vendors.
2. Listing Fees: Fees charged to issuers for listing securities on the exchange markets (Prime Market, Standard Market, Free Market, Start Market).
3. Trading Fees: Fees from trading transactions executed on the exchange through Xetra T7 system.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

The Prague Stock Exchange operates a regulated multi-segment securities market (Prime, Standard, Free, and Start) for the admission, trading, and clearing of equities, corporate bonds, investment funds, and structured products such as certificates and warrants. It provides issuers with listing services, market participants with trading and clearing infrastructure on the Xetra T7 platform, and global investors with proprietary index calculations and real-time, delayed, and end-of-day market data feeds. Complementary services include the PSEAC Arbitration Court for resolving securities disputes.

Product overview

The Prague Stock Exchange (Burza cenných papírů Praha, a.s.) operates as a regulated securities market organized into multiple trading segments: Prime Market for blue-chip equities, Standard Market for Czech and foreign equities, Free Market (MTF) for foreign issues, and Start Market (MTF) for smaller Czech companies. Beyond equities, the exchange offers trading in bonds (corporate, public, and financial sectors), structured products (certificates and warrants), and investment funds (qualified investor funds, foreign funds, ETFs). The exchange maintains benchmark stock indices (PX, PX-TR, PX-TRnet, PX-GLOB, PX-Start) and provides supplementary services including a dedicated arbitration court for dispute resolution and an Energy Clearing Counterparty subsidiary. Market data is distributed through ADH data feeds with 15-minute delay, while trading infrastructure is operated by the Vienna Stock Exchange via Xetra® T7. Related entities within the PX Group include the Central Securities Depository Prague and Power Exchange Central Europe.

Differentiator

Problem solved

Functional benefit

Brands

• PX Index: The main stock index of the Prague Stock Exchange, tracking the most liquid Czech shares
• PX Group

Products and services

• Prime Market Premier regulated equity-listing segment of the Prague Stock Exchange for issuers meeting the highest governance, free-float, and reporting standards; targeted at large-cap Czech and CEE companies.
• Standard Market Mid-tier regulated equity-listing segment for established companies meeting core disclosure and corporate-governance requirements, providing a regulated venue short of the Prime Market.
• Free Market Regulated market segment with lighter admission and ongoing-obligation requirements, providing access to a regulated venue for smaller and growth-oriented issuers.
• Start Market Entry-level regulated market for early-stage and small-cap companies, offering market visibility with proportionate admission and ongoing-obligation requirements.
• Bonds Market Regulated venue for the admission, trading, and clearing of corporate and government debt securities on the Xetra T7 platform.
• Certificates and Warrants Regulated trading of structured products such as certificates and warrants issued by member institutions and listed on the exchange.
• Investment Funds Listing and trading of investment-fund units on the regulated Prague Stock Exchange market.
• Stock Exchange Indices Proprietary benchmark indices (including the PX flagship index) calculated, published, and licensed by the Prague Stock Exchange through its Index Factory system.
• Market Data Feeds Real-time, delayed, and end-of-day market data on PSE-listed instruments distributed via the Alliance Data Highway (ADH) to vendors, members, and end investors.
• PSEAC Arbitration Court In-house arbitration forum operated by the Prague Stock Exchange for resolving securities-related disputes between listed issuers, exchange members, and investors.

Quantifiable outcome

• 2+ million transactions per day processed
• +2 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Deutsche Börse AGcoreTechnology or Integration · 1 November 1999Partnership since November 1999 for the Xetra trading system (now Xetra T7). Deutsche Börse AG provides the securities trading system that processes on average more than two million transactions per day. This is the foundational technology partnership enabling PSE's trading operations.
• Wiener Börse AG (Vienna Stock Exchange)coreTechnology or IntegrationVienna Stock Exchange operates Xetra T7 for PSE under Software as a Service agreements. PSE is connected to Vienna's unified trading data distribution system, making it part of the largest data distribution channel in Central and South-eastern Europe. Vienna Stock Exchange provides market data distribution, technical connectivity, and index calculation services (Index Factory).
• Central Securities Depository Prague (CDCP)coreOthersPart of PX Group holding. Provides central securities depository services for the Czech market, handling settlement and custody of securities traded on PSE.
• Energy Clearing CounterpartycoreOthersSubsidiary of Prague Stock Exchange holding (Business ID: 28441681). Provides energy clearing services. Part of PX Group structure.
• Power Exchange Central Europe (PXE)minorOthersPower Exchange Central Europe, a legally connected company within the PX Group, operating power derivatives market.

Scale indicators7 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Hellenic Exchange (ATHEX): Greek exchange group operating cash equities, derivatives (via ATHEXClear), and clearing. Comparable institutional setup as a small-to-mid EU listed-venue operator with regulated-market license and adjacent energy/commodity clearing units (EnEx/ETSO).
• Zagreb Stock Exchange (ZSE): Croatian regulated exchange offering equities, bonds, and structured products through Prime/Regular/Pro MTF segments. Closely comparable small CEE equity-market operator targeting regional issuers.
• Ljubljana Stock Exchange: Also operates on the Xetra T7 stack via Vienna Stock Exchange. Small Slovenian regulated market with Prime/Standard/Main MTF segments, materially comparable in scale and product mix to PSE.
• Wiener Börse (Vienna Stock Exchange): Operates the Xetra T7 system for PSE and runs the unified Central/South-Eastern European market data distribution channel that PSE plugs into. Same regulatory family, same technology stack, and overlapping product set (cash equities, indices, market data).
• Budapest Stock Exchange: Another small CEE exchange running on the same Xetra T7 infrastructure; comparable multi-segment structure (Prime, Standard, BÉT Xtend) and similar issuer/trading profile to PSE. Direct comparative benchmark for trading volumes and listings growth in the region.
• Bucharest Stock Exchange (BVB): Romanian regulated market with comparable tiered structure (Premium, Standard, AeRO/SMTs) and similar emerging-market profile. Competes for CEE issuer capital and serves as a near-peer benchmark for listing strategy.
• Warsaw Stock Exchange (GPW): Largest CEE exchange by market cap and trading volume; offers equities, derivatives, and indices. Operates similar Prime/Main/NewConnect market tiers and competes for the same regional IPO and trading flow as PSE.

Broad incumbents

• Euronext (Dublin, Oslo, Milan, Paris, Amsterdam, Brussels, Lisbon): Pan-European exchange group offering cash equities, ETFs, bonds, derivatives, and clearing. Competes with PSE for international listings on its Free Market and serves as a benchmark for integrated EU exchange economics and product diversification.
• Deutsche Börse AG: Owner of the Xetra T7 technology stack that PSE runs and the dominant EU exchange operator with cash, derivatives (Eurex), clearing (Clearstream), and indices. Comparable in regulatory role but materially larger and more diversified; its strategic priorities directly shape PSE's operating economics.

Regional players

• Nasdaq Nordic exchanges (Copenhagen, Stockholm, Helsinki): Smaller regulated Nordic venues under the Nasdaq Inc. group, often cited as benchmarks for SME growth segments and ESG transition products. Operate under similar MiFID II/MAR frameworks but in a different geographic and issuer mix than PSE.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/prazskaburza
• YouTubeyoutube.com/PXGroupOfficial
• LinkedInlinkedin.com/company/prague-stock-exchange

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Prague Stock Exchange