Despite the generally difficult global economic environment, the prospects for the Vienna Stock Exchange are positive for next year. “Based on the developments of the past few months, we expect an initial stabilization and subsequently a further increase in prices as well as a slight rise in trading volumes,” said Michael Buhl and Heinrich Schaller, Members of Management Board of Wiener Börse AG. On 28 December, the ATX closed at 2,482.13 points attaining a plus of 41.77% versus 31 December 2008. Compared to the all-year low on 9 March 2009, it was up by 75.79%. Trading volumes recovered after their low of February (EUR 4,2bn): The average monthly trading volumes for 2009 were around EUR 6 bn. In comparison, the average monthly trading volumes for 2008 were EUR 11.7bn. Market capitalization rose from EUR 53.1bn on 31 December 2008 by 46.07% to EUR 77.5bn at 28 December 2009.
Moreover, the Vienna Stock Exchange is hoping for a trend reversal with regards to initial public offerings: currently capital market transactions are on the rise again at the Vienna Stock Exchange, in the form of capital increases. “We see this development as a positive sign for initial public offerings next year,” said Heinrich Schaller.
Stepping up the internationalization strategy
In 2010, the Vienna Stock Exchange plans to continue its internationalization strategy. Together with the neighboring exchanges of Budapest, Ljubljana and Prague, in which the Vienna Stock Exchange holds majority stakes, a new family brand – CEE Stock Exchange Group – was launched in September 2009. “We will continue to work closely and intensify collaboration with our partners,” said Mr. Buhl and added: “The Vienna Stock Exchange’s primary goal is to attract international attention to our region among institutional investors and to strengthen the respective capital markets.” One of the measures planned is the switch of the trading systems of the partner exchanges to XETRA®, which is already used by the Vienna Stock Exchange. The first changeover is scheduled to take place in 2010 in Ljubljana.