DEFINITION of Vienna Stock Exchange (WBAG) .VI
The Vienna Stock Exchange is also known as Wiener Borse AG, the name of the company that operates the exchange. It considers itself a customer and market-oriented company that plays a vital role in Austria’s capital market. The Vienna Stock Exchange runs the securities exchange and the Energy Exchange Austria (EXAA), a Central European energy exchange also headquartered in Vienna.
BREAKING DOWN Vienna Stock Exchange (WBAG) .VI
The Vienna Stock Exchange operates the equity and bond markets in addition to a market for trading in structured products. It provides services such as index development and management as well as financial market seminars and training. The exchange’s trading hours are Monday-Friday 8:55 a.m. to 5:35 p.m.
The Vienna Stock exchange considers corporate social responsibility a key part of its business. It states that it has a CSR policy and contributes to the environmentally, socially and economically sustainable development of Austria. The exchange has two strategic goals. The first is to strengthen the home market and advance investment culture in Austria. The second is to continue its cooperation network in Central and Eastern Europe (CEE), which encourages international investors to look at the local markets of Central and Eastern Europe.
History of the Vienna Stock Exchange
Founded in 1771 by the empress Maria Theresa, the Vienna Stock Exchange is one of the oldest in the world. In its first years, it was a marketplace for trading bonds, bills of exchange and foreign currencies. The first time that shares were traded was in 1818, and the first corporation to be listed on the exchange was the Austrian National Bank.
World War I saw the close of the Vienna Stock Exchange until the end of 1919. After, it experienced a strong revival which ended suddenly in March 1934. The global economic crisis and bank collapse affected exchange trading; however, the Stock Market Crash of 1929 in the United States did not have much impact.
In 1938, the incorporation of Austria into the Deutsche Reich caused Wiener Borse to lose its independence. Limited stock market trading continued from then until right before the end of World War II.
After the war, the exchange opened back up in 1948. The stock market was not as robust, but the bond market recovered in 1952. Bond market trading grew until a turnaround in 1985 when an American analyst drew attention to the potential of the Austrian capital market, which triggered a stock boom.