The term “regional stock exchange” is used to refer to a stock exchange which is not the main stock exchange of the country in which it is located in terms of market capitalization and transaction volume.
Regional exchanges may host primary listings of companies which do not have a high enough market capitalization to list on a major exchange. They may also host secondary listings of stocks whose primary listing is on a major exchange in order to attract investment from regional investors.
Differences in exchange rules and pricing may also be a reason for companies to choose a regional exchange for their primary listing or to hold a secondary listing on a regional exchange.
The Berne Exchange (BX) is an example of a regional stock exchange which hosts primary listings of mid-cap stocks, and secondary listings of high-cap stocks with primary listings on the SIX Swiss Exchange (SIX).
The main stock exchange in Germany in terms of primary listings and trade volume is the Börse Frankfurt. However, regional exchanges like the Börse Stuttgart, Börse Düsseldorf, Börse München, Hamburger Börse and Börse Berlin also play an important role in the German stock market.
Swiss stock broker comparison