Wiener Börse, the Vienna Stock Exchange, has launched a new subscription service for private investors.
The subscription service, called FirstPlace, enables private investors to directly buy securities when they are issued in the future.
Through the service, customers can buy new stocks in new listings using their online banking details through banks participating in the scheme.
The move comes as Wiener Börse predicts that initial public offerings (IPOs) are set to rise this year.
The stock exchange also announced that earnings in 2022 reached €87 billion, an increase of 2.4 per cent on last year’s results, attributing the results to higher turnover of stocks.
Commenting on the news Heimo Scheuch, chairman of the supervisory board of Wiener Börse, said: “Austrians have recognised the opportunities of the stock market and are focusing more on private investments: Every fourth person holds securities."
Earlier this year Wiener Börse implemented a new system which allows users to access market data four times faster. The technology distributes data in real time from 11 markets with around 16,000 users in around 60 countries.
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