J PUTZEYS
Most important question : after preparing my company for an IPO, on what exchange ?
The exchange characteristics need to align with the specific needs of stock traders and a wide range of cross border investors, if not then consider your listing as symbolic.
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A Tech-Centric Exchange needs to offer
A deep investor base combined with cross border trading
Regulatory Compliance and Security ,ensuring the safety and security of investments.
Platform Functionality and Tools, critical for effective stock trading.Analytical tools, real-time data feeds, and the overall user experience provided by these platforms.
Access to a Broad Range of European Stocks combined with a deep base of (investment) banks
Cost-effective Tading Costs and Fees: Cost-effectiveness is crucial.Transparency with competitive pricing.
ALL IN ENGLISH PLEASE
NASDAQ ( but one needs to cross the Atlantic Ocean)
NASDAQ is a global powerhouse known for its focus on technology, attracting both major tech giants and promising startups. Its tech-driven listing requirements—such as a lower minimum market value—make it easier for smaller tech companies to join, while its appeal to growth-oriented firms is evident from the listings of Apple, Microsoft, and Amazon.
The following features distinguish NASDAQ from other exchanges, making it the preferred choice for tech-focused companies looking to raise capital, secure liquidity, and gain global visibility ;
- Tech-Centric Requirements: Tailored criteria support tech companies by lowering entry barriers.
- Growth Appeal: A market-savvy investor base and a focus on innovation make it ideal for rapidly growing firms.
- High Liquidity: Robust trading volumes and an advanced electronic trading platform ensure efficient capital raising and easy share transactions.
- Specialized Indexes: Tools like the NASDAQ Composite and NASDAQ-100 offer clear benchmarks for the tech sector.
- Global Reach: Cross-listing opportunities attract international companies seeking broader exposure.
EU
Currently, the EU hosts 35 listing exchanges and 18 central clearing houses, compared to just three exchanges and one clearing house in the US. Despite this, the EU represents only 11% of global stock market capitalization, while the US accounts for 43 percent
SOME EUROPEAN TECH-CENTRIC EXCHANGES ARE :
EURONEXT GROWTH
Euronext Growth, a segment of Euronext.
EuronextGrowth is a Multilateral Trading Facility (MTF) operated
by Euronext. It is designed primarily for small and mid-sized companies (SMEs)
seeking a simplified, cost-effective route to capital markets.It is not classified as an “EU Regulated Market” under MiFID II; instead, it operates
under the lighter regulatory framework applicable to MTFs.Sophisticated investors avoid lightly regulated markets
NASDAQ NORDIC
Nasdaq Nordic is based in Sweden and has high regulatory standards just as Nasdaq in the US .
Nasdaq Nordic's relatively low number of non-Scandinavian listings can be attributed to its strong regional focus, regulatory frameworks tailored to the Nordic market, a predominantly local investor base, and the strategic preferences of companies to list in environments where they have an existing presence or familiarity.
EURONEXT GROWTH MILAN
Euronext Growth Milan (formerly AIM Italia) is classified as a Multilateral Trading Facility. Unlike a fully regulated market, an MTF is subject to lighter regulatory requirements. It is primarily governed by the rules established by the market operator—in this case, Borsa Italiana, which became part of the Euronext group in 2021.