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INVESTMENT THEME
Basic information

Why investing is important
Regularly investing in shares offers more potential to increase the value of your finances over the long term than if you just saved in a bank account. You can reinvest gains and investment income (e.g. dividends) to increase the potential for your finances to grow faster than inflation.

What to consider before investing
The value of an investment can go up or down, historical performance does not guarantee future performance, potential gains are not guaranteed and losses are possible. You need to diversify, set a time horizon, evaluate acceptable risk and tax implications. If you don't have knowledge and experience in investing, you should contact a professional financial and investment advisor.

What is the stock exchange
An exchange is a market where securities (e.g. stocks, bonds, investment certificates, funds, etc.) or commodities are traded, with the price on the exchange determined by supply and demand. The role of the exchange is also to connect investors who want to value their funds and companies who want to raise new capital. It thus performs an important function for the national economy as a whole.
PRAGUE STOCK EXCHANGE (PSE)
Introducing
Burza cenných papírů Praha, a.s. (BCPP) and its subsidiaries form the PX Group. The PX Group also includes the Central Securities Depository (CDCP), which maintains records of book-entry securities and settles trades, and Power Exchange Central Europe (PXE), a commodity exchange for electricity and natural gas.
The majority shareholder of the BCPP is the Vienna Stock Exchange (Wiener Boerse), with which the BCPP cooperates closely. The BCPP is a member of the Federation of European Stock Exchanges (FESE) and is included in the prestigious list of safe exchanges for investors (Designated Offshore Securities Market status).
The activities of the BSE and the overall developments on the Czech capital market are supervised by Czech National Bank (CNB). Trading on the BSE is conducted only through licensed securities dealers (OCPs) who are also members of the exchange. These are mainly major banks and brokerage firms.
Why do investors choose stocks on the BCPP?
- Dividends (shares on the Prague Stock Exchange pay some of the highest dividends in Europe).
- Simplicity and minimization of currency risk.
- Knowledge of local businesses and the domestic legislative and tax environment.
- Potential for high appreciation and inflation protection.
What was 2024 like?
The BCPP was one of the best performing stock exchanges in Europe, both in terms of overall annual profitability and dividend yield.
STOCK EXCHANGE PRAGUE - SHARES
Overview
Shares on the Prague Stock Exchange
The largest companies on the regulated market as of 31.12.2024





The largest companies on Start Market as of 31.12.2024





INVESTORS
How to invest?
If an investor decides to invest on the BCPP, he or she should contact one of the Exchange's members or another licensed securities dealer (OCP) that works with one of the Exchange's members. The list of licensed OCPs is maintained by the Czech National Bank (CNB).
Choice of trader
Choose an OCP to conduct the trade for you. We recommend that you approach several OCPs and choose based on the most favourable conditions offered (range of services, price lists, access to data, availability of the OCP to the investor, etc.).
Setting up an account
You will agree on the terms with the selected OCP, fill in the investment questionnaire, sign the contract and the OCP will open an investment account for you. Getting an investment account is as easy as opening a bank account.
Public offer
Shortly before a company goes public and before its shares start trading, you can buy shares in newly listed companies during their IPO period. You can find out about new issues on the stock exchange website or from your OCP. Companies that are about to enter the Start Market generally have a 14-day subscription period. The length of the underwriting period may be different for companies entering other markets.
Trading
You can buy/sell shares of companies that have already listed on the BSE within your investment account at any time during the trading hours of the BSE. Information on all shares traded on the BSE and a list of them is available on the BSE website and further information can be requested from your OCP. According to the OCP's service offerings, buy/sell orders can be executed online, over the phone or at a branch.
FAQs
Frequently asked questions and answers
In addition to shares, bonds (including government bonds), investment certificates, warrants or investment funds are traded on the BSE. Further information and data can be found on the Exchange's website, in the Current Data section.
Shares and other investment instruments can only be bought/sold through members of the Exchange who are authorised to enter into Exchange trades. The terms and conditions for participation in exchange trades are governed by the Membership Rules and the Trading Rules. This means that an investor must have an investment account either directly with a member of the Exchange or with a securities dealer (OCP) that cooperates with a member of the Exchange. A list of the Exchange's members is published on the BSE website.
Trading on the BSE takes place on weekdays from Monday to Friday. It is not traded on weekends, public holidays and the last day of the year. The list of non-trading days is set out in the calendar of trading days published on the BSE's website.
All markets on the BSE are traded from 8:00 to 16:30. A detailed schedule of the trading day is published on the BCPP website. The results of the trading day are published in the official price list at 17:15.
During trading, all buy and sell orders are collected in the order book in the XETRA T7® electronic system operated by Deutsche Börse AG.
Only exchange members have real-time access to the order book. During trading hours, the exchange website displays prices and closed trades for each stock with a 15-minute delay. It also displays a section of the unpaired order entries where only the first five highest prices for sell bids and the first five lowest prices for buy bids are published.
Each company has an investor section on its website where all important information and documents for investors are published. Information about individual companies and their shares or other investment instruments traded on the BSE can also be found on the Exchange's website, in the Current Data section.
The shares are divided by individual markets, where each issue has its own component. Here you can find current trading data, an overview of historical data or company information, including the most important documents that companies send as part of their disclosure obligations to investors. Start Market companies also publish their annual financial statements and investors can download them in an editable XLSX format.
Information about the new subscriptions can be found on the Exchange's website, on social media and in various media. You can also contact your trader who will give you information on whether you can participate in the public subscription. The relevant company will also announce its IPO, as this is one of its biggest milestones.
Various reports and historical data are available on the Exchange's website in the Quotations and Statistics section. For example, here you can look up aggregate trading volumes, market capitalizations of equity issues or key annual data for the last ten years.
The PX index is the official price index of the BSE and the PX-TR index is the official dividend index of the BSE, taking into account the gross (i.e. tax-free) dividend payment in its calculation. The Exchange also calculates the PX-TRnet index, which takes into account the amount of the dividend payment less income tax in its calculation. Only actively traded blue chip equity issues are included in the PX index group. The eligibility criteria, index calculation and other information are set out in the PX, PX-TR and PX-TRnet Index Calculation Rules.
Furthermore, the BCPP calculates the PX-GLOB index, which is a price index that does not take into account any dividend yields. As a rule, in the index base, the BCPP includes all share issues admitted to trading on the Prime Market and Standard Market. The eligibility criteria, index calculation and other information are set out in the PX-GLOB Index Calculation Rules.
Issues admitted to trading on the Start Market are included in the PX-START index base. This is a dividend index that takes into account gross (i.e. tax-free) dividend payments in its calculation. The eligibility criteria, index calculation and other information are set out in the PX-START Market Index Calculation Rules.
Further information can be found on the Exchange's website, in the Indices section.
The Central Securities Depository, a.s. (CDCP), a subsidiary of the BSE and part of the PX Group, is responsible for keeping records of book-entry securities and settling exchange and over-the-counter transactions in investment instruments. More information can be found on the CDCP website.
Yes, trading fees should be discussed with the trader who will be brokering the trades for you. The fee policy is certainly one of the criteria that should be considered when choosing a trader.
Downloads
- Disclaimer for investors 462 kB
- Trading rules 1 712 kB
- Rules for continuous trading 696 kB