Requirements of the First Quotation Board (FQB), a financing segment, were tightened in order to protect the capital market and in particular, the investors, as well as to impede market manipulation and fraud. Even so, there were still cases of suspected manipulation. Therefore, Deutsche Borse has chosen to discontinue the FQB in its present form and only the companies that fulfill new stringent corresponding requirements will be allowed for inclusion via one of three segments. These segments are Prime Standard and General Standard in Regulated Market and Entry Standard in Open Market - which is where Next Alternative falls.
These tighter regulations will lend to enhanced transparency and the overall efficiency of the market, thereby ensuring continual raising of capital and tradability of securities. Final implementation of the new market segment is expected to take effect end of third quarter 2012.
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