Hamburg Stock Exchange (HAM)

Hamburg Stock Exchange (HAM)

Investopedia / Michela Buttignol

What Is the Hamburg Stock Exchange (HAM)?

The Hamburg Stock Exchange (HAM) is one of eight stock exchanges located in Germany. Founded in 1558, the exchange is the oldest in the country and is located in Hamburg. The HAM focused on the trading of goods when it was founded, but has since expanded to include securities, open-end investments, and closed-end funds. The exchange works with the Hanover Stock Exchange under the umbrella company Börsen AG.

Key Takeaways

  • The Hamburg Stock Exchange is one of eight stock exchanges in Germany.
  • Founded in 1558, it is the country's oldest exchange.
  • It began as a goods-only exchange but has since expanded to include stocks, bonds, and other investments.
  • The HAM joined with the Hanover Stock Exchange and operates under Börsen AG as the umbrella company.

Understanding the Hamburg Stock Exchange (HAM)

The Hamburg Stock Exchange, also called Hamburger Börse, was founded in 1558. It is the oldest stock exchange in Germany and is located in the northern port city of Hamburg. When the exchange was first founded, trading took place outdoors. It wasn't until 1583 when the first building was constructed, taking trading activity indoors. The new exchange building opened in 1841, a year before the old building burned down.

Most of the transactions were product-based when the exchange was first established. But that era marked the start of financial transactions. This led to the beginning of paper trades. In 1815, the Hamburg Stock Exchange began to deal in regular securities trading. With that landmark year, it became the oldest German stock exchange, leading to eight German stock exchanges including the Frankfurt Stock Exchange (FRA) and the Berlin Stock Exchange (XBER).

If you want to invest in the German market, try an exchange-traded fund (ETF) or you can purchase American depository receipts (ADRs).

According to the website, there are more than 8,500 securities that trade on the Hamburg Exchange. Along with stocks, investors can trade bonds and other securities as well. The exchange is also now a market leader in closed-end fund trading on the secondary market.

It also offers investment plans such as FONDS-X. Trading takes place in euros. Private investors who execute trades up to €50,000 on DAX 30 stocks or those who trade up to €25,000 worth of securities found on other indices don't have to pay commissions.

The HAM joined with the Hanover Stock Exchange of Lower Saxony in 1999 to operate under Börsen AG as the umbrella company. It operates under the umbrella of the Hamburger Borse, which runs the Stock Exchange, the Insurance Exchange, the General Exchange, the Grain Exchange, and the Information Exchanges. The exchange is open Monday to Friday between 8:00 a.m. and 8:00 p.m. It is closed on weekends and holidays and does not close for lunch like some other exchanges.

Other German Stock Exchanges

The other stock exchanges in Germany are the Frankfurt Stock Exchange, the Berlin Stock Exchange, the Stuttgart Stock Exchange, the Munich Stock Exchange, the Dusseldorf Stock Exchange, the Xetra Exchange, and the Hannover Stock Exchange. The largest stock exchange in Germany is the Frankfurt Stock Exchange, which is also one of the largest exchanges in the world.

Germany is the financial center of Europe so the trading activities of its exchanges are closely monitored, especially since Germany has some of the largest companies in the world, such as Volkswagen, Adidas, BMW, and Mercedes.

One of the most popular stock exchange indexes is the DAX 30, a listing of the 30 most prominent companies listed on the Frankfurt Stock Exchange. The DAX 30 is expected to expand to the DAX 40 in 2021.

Special Considerations

The Hamburg Stock Exchange is a neutral market. This means it doesn't provide investors with any recommendations. But it does provide a number of resources to help traders make important investment decisions.

For instance, the exchange offers a free investor fair called the Hamburg Exchange Congress. According to the exchange's website, is the largest event of its kind in the country, providing seminars, presentations, and information about different investment opportunities. Investors can also take advantage of regular seminars and special tools that allow them to create watchlists and price lists of securities that trade on the exchange.

Article Sources
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  1. Hamburger Börse. "Gallery." Accessed March 23, 2021.

  2. Hamburger Börse. "Shares, bonds, funds and more." Accessed March 23, 2021.

  3. Hamburger Börse. "Exchange Congress, seminars, newsletter." Accessed March 23, 2021.