Börse München

What Börse München does

Börse München (Munich Stock Exchange), operated by Bayerische Börse AG, is a public-law German stock exchange founded in 1830 and headquartered at Hopfenstraße 4, Munich. It operates two complementary trading venues under MICs MUNA (Regulated Market) and MUNB (Freiverkehr/Open Market): the specialist model (Skontroführermodell) on MAX-ONE, covering roughly 30,000 securities, and the gettex Market Maker model exchange, covering more than 400,000 financial products. Trading runs 8:00–22:00 on weekdays. The exchange also runs m:access, a dedicated SME listing segment launched in 2005 and positioned as the DACH market leader for mid-cap capital-market access, with 70+ listed companies, €5,000 admission fees, and €3,500–€7,500 annual fees tied to market capitalization.

The platform serves four primary segments: retail investors accessing quotes and trading through 50+ bank and broker integrations (Sparkassen, Genossenschaftsbanken, Comdirect, Commerzbank, ING, DKB, Flatex, Consorsbank, Postbank), institutional participants and market makers (notably Baader Bank for bonds until 22:00), mid-market issuers seeking simplified capital-market access via m:access, and bond issuers including government and corporate debt. Revenue streams comprise transaction fees, listing/admission fees, and market-data subscriptions (delayed data is free; real-time is gated by free registration). Underlying technology includes MAX-ONE trading infrastructure, technology integrations with Refinitiv/LSEG and financial.com AG, and a website relaunched in December 2024 featuring ESG ratings for ETPs/funds/bonds, finder tools, and a Südseiten content platform.

Bayerische Börse AG is an independent German Aktiengesellschaft without venture capital, private equity or corporate parent ownership, supervised by the Bavarian State Ministry for Economic Affairs. Leadership comprises Vorstände Dr. Robert Ertl and Andreas Schmidt (the latter reappointed for a further five years from July 1, 2025), Geschäftsführer Dr. Marc Feiler, and a Supervisory Board chaired by Dr. Martin Fritz. Operating geographies cover Germany, Austria and Switzerland, with no global footprint claimed. Financial figures are not publicly disclosed; gettex trading volume crossed €110 billion in 2024 with approximately 40% annual transaction growth over the prior four years.

Name

Börse München

Legal name

Bayerische Börse AG

Website

https://boerse-muenchen.de

Company type

Private

Founded year

1830

Operating status

Operating

Headcount range

11–50 employees

Short description

Börse München, operated by Bayerische Börse AG, is a public-law German stock exchange running two trading venues (specialist model and gettex Market Maker model) plus the m:access SME listing segment, serving retail investors, banks/brokers, and mid-market issuers across the DACH region.

Ownership category

akta.pro rank

Product category

Securities Exchange / Stock Exchange

NAICS

Securities and Commodity Exchanges (5232), Securities and Commodity Exchanges (52321), Securities and Commodity Exchanges (523210), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

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

akta.pro primary industry

Listed Derivatives Execution Platforms (Futures/Options) (FSAFANAD)

akta.pro secondary industries

Equity Capital Markets Advisory (Equity Issuance Strategy & Readiness) (FSACAAAI), Follow-on Offerings (FPOs) (FSACAAAB), Secondary Offerings & Share Sales (Secondary Placements) (FSACAAAG)

Keywords

• Securities exchange operations
• Stock exchange trading
• Market data services
• SME listing services
• Bond market making

Headquarters

HQ city

Munich

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Trading Fees: Transaction fees from securities trading across listed equities, bonds, ETFs, funds, and certificates on Börse München and gettex platforms.
2. Listing Fees: One-time admission fees and annual fees from companies listed on Börse München including m:access segment.
3. Market Data Services: Revenue from delayed (15-min) and real-time market data subscriptions for securities traded on the exchange.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

Börse München (operated by Bayerische Börse AG) operates a public-law securities exchange offering two complementary trading venues: the specialist model (Skontroführermodell) covering approximately 30,000 securities on Börse München, and the market maker model gettex covering over 400,000 financial products. It provides capital market access for mid-market companies via the m:access segment, and delivers market data, watchlist functionality, and order routing through bank/broker integrations from 8:00 to 22:00.

Product overview

Börse München (operated by Bayerische Börse AG) operates as a multi-platform financial exchange ecosystem offering two complementary trading models: the specialist model (Börse München/MAX-ONE) for around 30,000 securities, and the market maker model gettex for 400,000+ securities. The ecosystem includes the m:access Mittelstand segment for SMEs, multiple finder tools (stocks, ETFs, funds, bonds), cryptocurrency trading, personalized watchlists, bank login integration, the Südseiten editorial blog, and investor education via webinars and the annual dividend special publication.

Differentiator

Problem solved

Functional benefit

Brands

• m:access: SME market segment of Börse München offering simplified access to capital markets for mid-sized companies with reduced regulatory requirements compared to the Regulated Market.

Products and services

• Börse München (MAX ONE) specialist-model exchange Primary specialist-model trading venue (Skontroführermodell) covering around 30,000 securities including equities, ETFs, bonds, funds, and certificates, with trading hours from 8:00 to 22:00; provides delayed (15-min) and real-time quote access after registration.
• gettex exchange Market Maker model exchange complementary to Börse München, offering trading for approximately 400,000 securities (stocks, bonds, ETPs, funds, certificates) from 8:00 to 22:00, accessible through banks and brokers.
• m:access SME listing segment Dedicated Mittelstand/PMI listing segment for small and mid-cap companies in the DACH region, offering simplified capital market access with reduced follow-up obligations. Supports IPOs, pure listings, and segment switches with a 48-hour admission process.
• Market data subscription service Real-time and 15-minute delayed market data feeds for securities traded on the exchange; delayed data is free, and real-time quotes are available via subscription after free registration on the 'Meine Börse' portal.

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature2 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Baader Bank AGcoreChannel Partner/ Reseller/ Distributor · 16 October 2023Baader Bank AG serves as Market Making partner for bonds on Börse München and gettex, providing continuous liquidity for 8,500 EUR-denominated bonds and 6,100 bonds in 22 other currencies including USD. Bond trading extended until 22:00 to match US market hours. Also serves as m:access emission specialist.
• ComdirectcoreChannel Partner/ Reseller/ DistributorOnline broker with depot access integration to Börse München trading platform via bank login feature
• CommerzbankcoreChannel Partner/ Reseller/ DistributorMajor German bank with online depot access to Börse München via bank login feature
• ConsorsbankcoreChannel Partner/ Reseller/ DistributorOnline broker (BNP Paribas subsidiary) with depot integration to Börse München
• INGcoreChannel Partner/ Reseller/ DistributorMajor Dutch bank operating in Germany with online depot access to Börse München
• FlatexcoreChannel Partner/ Reseller/ DistributorGerman online broker with depot access integration to Börse München
• Sparkassen NetworkcoreChannel Partner/ Reseller/ DistributorGerman savings banks network (Sparkassen) providing securities trading access to Börse München. Over 50 Sparkassen including Sparkasse München, Sparkasse Augsburg, Sparkasse Rosenheim and others integrated via bank login.
• Genossenschaftsbanken (Cooperative Banks)coreChannel Partner/ Reseller/ DistributorGerman cooperative banking network including VR Bank München Land, Münchner Bank, Raiffeisenbanken, providing depot access to Börse München
• financial.com AGcoreTechnology or IntegrationTechnology provider for financial market data, powering the exchange's market data application and real-time quote delivery
• Refinitiv (LSEG)coreTechnology or IntegrationFinancial data service provider (London Stock Exchange Group) delivering consolidated analyst estimates and company data to Börse München website
• Finanzplatz München Initiative (fpmi)minorStrategic or Co-development PartnerAssociation of ~50 financial industry companies and institutions in Bavaria. Bayerische Börse AG is member; Vorstand serves as spokesperson. Advocates for Munich as financial center in European and federal policy.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Euronext: Pan-European exchange operator running Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo, and Paris venues. Competes with Börse München for European ETF listings, bond issuance, and cross-border mid-cap IPOs.
• London Stock Exchange Group (LSEG): Owner of the London Stock Exchange and Refinitiv, a market data partner of Börse München. Competes in European listings, ETF trading, and data services relevant to m:access and gettex.

Regional players

• SIX Swiss Exchange: Swiss national exchange operating cash equities, ETFs, and structured products in the DACH region. Comparable venue for bond, ETF, and structured product listings served by gettex.
• Nasdaq Nordic: Operates exchanges in Copenhagen, Helsinki, Iceland, and Stockholm with a strong mid-cap and Nordic-SME listing franchise analogous to m:access. Comparable for SMEs seeking public-market access outside the DACH region.

Direct peers

• Tradegate Exchange: Berlin-based retail-focused exchange with a market-maker model for German equities. Competes head-on with gettex for retail order flow routed via German online brokers.
• Wiener Börse (Vienna Stock Exchange): Austrian national exchange operated as a public-law institution and direct DACH peer. Shares the SME-segment focus (mid-market direct market plus) with m:access and serves overlapping Austrian issuer base.
• Börse Stuttgart: Another German regional public-law exchange, particularly strong in retail bonds, securitized derivatives, and warrants. Directly comparable to Börse München in mid-cap and retail trading segments.
• Deutsche Börse AG: Germany's dominant exchange operator running Xetra cash equities and Eurex derivatives. Direct competitor to both Börse München (specialist model) and gettex in German equities and ETF trading.

Others

• financial.com AG: Technology vendor powering real-time quote delivery on boerse-muenchen.de. Key infrastructure dependency comparable to data and connectivity providers across European exchanges.
• Baader Bank AG: Core market-making and emission-specialist partner for Börse München's bond franchise and m:access IPOs. Included as an ecosystem partner that is structurally tied to the exchange's revenue engine.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights1 record

Customer concentration

• YouTubeyoutube.com/boerse-muenchen
• Xx.com/bayboerse

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

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 Börse München