In Germany there are stock exchanges in Berlin, Duesseldorf,
Frankfurt/Main, Hamburg, Hanover, Munich, and Stuttgart. The
most important stock exchange is the Frankfurt Stock Exchange
(Frankfurter Wertpapierbörse). The institution operating the
Frankfurt Stock Exchange is Deutsche Börse AG. The Frankfurt
Stock Exchange accounts for over 85% of trading in the German
market. The most important trading indices in Frankfurt are DAX,
MDAX, TecDAX, SDAX, and DJ Euro Stoxx 50.
The German Exchange Supervisory Authority, an institution of
the German federal states (Länder), monitors the setting up,
closing down, and operations of stock exchanges, and ensures
that trading is properly conducted.