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CMS Hasche Sigle advises Vereinigung Baden-Württembergische Wertpapierbörse e.V. and boerse-stuttgart AG on restructuring of the Baden-Württemberg stock exchange


The Baden-Württemberg stock exchange has separated the technical operation of the stock exchange, in particular the operation of the trading platform, from the public duties of the stock exchange. A team from CMS Hasche Sigle under the leadership of Stuttgart partner, Dr Thomas Meyding, advised Vereinigung Baden-Württembergische Wertpapierbörse e.V. and boerse-stuttgart AG on the restructuring which is without equal in Germany.

As part of these measures the sponsorship of the Baden-Württemberg stock exchange was transferred to a company created for this purpose, Baden-Württembergische Wertpapierbörse GmbH. boerse-stuttgart AG thereby became an operating company which will concentrate solely on providing services to the stock exchange, investors, trading partners and issuers. This organisational division will avoid conflicts between the stock exchange law responsibility, principally with regard to trading regulation, and the economic interests associated with operating the stock exchange. This serves to ensure the neutrality of the stock exchange which particularly for private investors -- the declared target group of the Baden-Württemberg stock exchange as a retail stock exchange -- constitutes a vital quality of the stock exchange. The new structure makes boerse-stuttgart AG more flexible for corporations and partnerships and creates the preconditions required for further innovation under stock exchange law. The Stuttgart stock exchange will therefore be able to offer tailor-made services principally in its trade with certificated derivatives and thus extend its qualitative advantage over other trading systems and other regional stock exchanges.

Dr Thomas Meyding, partner (lead partner)
Dr Axel Funk, Partner (IT law, stock exchange law)
Dr Gregor Zeifang, associate (IT law, stock exchange law)
Dr Martin Kolbinger, associate (corporate, stock exchange law)

Contact CMS Hasche Sigle:

Dr Thomas Meyding
Tel.: +49 (0)711 9764-388
E-mail: [email protected]


CMS Hasche Sigle is one of the leading German law firms with more than 420 lawyers. It covers the entire area of commercial law and provides legal advice to major German and international companies from a wide spectrum of industry.

CMS Hasche Sigle operates at all the major business centres. It has offices in Berlin, Cologne, Duesseldorf, Frankfurt, Hamburg, Leipzig, Munich, Stuttgart, Chemnitz, Dresden, Brussels, Belgrade, Moscow, Prague and Shanghai.

CMS Hasche Sigle is a partnership of lawyers and tax consultants; for register details / list of partners see www.cms-hs.com

CMS Hasche Sigle is a member of CMS, an alliance of leading European law firms. With over 575 partners, a total of 2,000 lawyers and tax consultants and around 3,800 support staff we advise our clients in 24 countries in Europe and further afield on legal and tax issues.

Local strength and legal tax advice tailored to the requirements of the market combined with a substantial amount of business and organisational integration form the basis for high-quality international legal advice.

In addition to CMS Hasche Sigle, the following firms are also members of the CMS alliance: CMS Adonnino Ascoli & Cavasola Scamoni (Italy), CMS Albiñana & Suárez de Lezo (Spain), CMS Bureau Francis Lefebvre (France), CMS Cameron McKenna LLP (Great Britain), CMS DeBacker (Belgium), CMS Derks Star Busmann (the Netherlands), CMS von Erlach Klainguti Stettler Wille (Switzerland) and CMS Reich-Rohrwig Hainz (Austria). CMS has 57 offices in 24 countries in Western and Central Europe, North and South America, Asia and North Africa.

For further information on CMS Hasche Sigle see www.cms-hs.com and on the CMS alliance see www.cmslegal.com.