Prague Stock Exchange
The Prague Stock Exchange (PSE) is one of the two organizers of securities market in the Czech Republic. After a fifty-year break caused by World War II and the Communist regime, the Prague Stock Exchange was reopened in 1993. It is a continuation of Prague Commodity and Stock Exchange, which was founded in 1871.
The PSE is a subsidiary of the Vienna Stock Exchange (Wiener Börse). Trading on the PSE is available only through licensed brokers, who are also members of the stock exchange.
Fio banka facilitates trading of all stocks listed on the Prague Stock Exchange and participating in initial public offerings, IPOs, on the market. More information how to open a trading account available here.
The settlement of securities transactions is processed in T+2 time.
Index PX
The official index of the Prague Stock Exchange is the index PX. It is a price index weighted by market capitalization, and composed of widely traded blue chips.
The Index PX-TR reflects performance including dividends, the index PX-TRnet includes dividends after tax.
- Avast
- Česká zbrojovka
- ČEZ
- Erste
- Kofola
- Komerční banka
- Moneta
- O2 Czech Republic
- Philip Morris ČR
- Photon Energy
- SAB Finance
- Stock Spirits
- Vienna Insurance
Avast is originally a Czech cybersecurity software company with history dating back to 1988. More than 435 million users worldwide (mainly consumers, followed small and medium-sized enterprises) use their antivirus solutions. For the year 2020 the company reported revenue of $892.9 million and net income of $169.6 million. Since its initial public offering the company pays dividends twice a year. Shares of Avast are listed on the London Stock Exchange. Using ticker BAAAVAST the shares are also traded on the Prague Stock Exchange and the RM-SYSTÉM Czech Stock Exchange.
Česká zbrojovka Group is a Czech firearms manufacturer with history dating back to 1936. Company supplies weapons to armed forces, they are also used for sport, hunting and personal protection purposes. Main production site is located in Uherský Brod. The United States of America is an important export market for the company. For the year 2020 the company reported sales of CZK 6.8 billion and net income of CZK 672.9 million. Česká zbrojovka paid dividends as a private company. With 2020 results the company announced the first dividend proposal as a publicly traded company. Shares of Česká zbrojovka Group are traded on the Prague Stock Exchange and the RM-SYSTÉM Czech Stock Exchange using ticker BAACZGCE. More information about the company including stock recommendation from Fio banka analysts available here.
ČEZ is a Czech electrical utility and one of the ten largest in Europe. The company generates, distributes and sells electricity and heat mostly in the Czech Republic. For the year 2020 the company reported sales of CZK 213.7 billion and adjusted net income of CZK 22.8 billion. ČEZ has a long tradition of regular dividend payments. Shares of ČEZ are traded on the Prague Stock Exchange and the RM-SYSTÉM Czech Stock Exchange using ticker BAACEZ. More information about the company including stock recommendation from Fio banka analysts available here.
Erste Group Bank is a Central European universal banking group with significant position mainly in Austria and the Czech Republic. For the year 2020 the bank reported operating revenue of €7.2 billion and net income of €783.1 million. Erste pays out dividends. In 2020 the payment was canceled because of coronavirus. In 2021 the payment was resumed in accordance with the recommendation of the regulator. Shares of Erste Group are listed on the Vienna Stock Exchange. Using ticker BAAERBAG the shares are also traded on the Prague Stock Exchange and the RM-SYSTÉM Czech Stock Exchange. More information about the company including stock recommendation from Fio banka analysts available here.
Kofola ČeskoSlovensko is a beverage producer and distributor. Their lemonades, waters, syrups and other beverages are sold in the Czech Republic, Slovakia, Slovenia and Croatia. The company also operates restaurant chain UGO. For the year 2020 the company reported sales of CZK 6.2 billion and adjusted net income of CZK 181 million. Kofola pays dividends. Shares of Kofola are traded on the Prague Stock Exchange and the RM-SYSTÉM Czech Stock Exchange using ticker BABKOFOL. More information about the company including stock recommendation from Fio banka analysts available here.
Komerční banka is a Czech bank providing universal banking services in the Czech Republic and corporate banking services in Slovakia. Since 2001 the bank is a part of the Société Générale group. For the year 2020 the company reported operating revenue of CZK 29.7 billion and net income of CZK 8.2 billion. Komerční banka has a long tradition of regular dividend payments. In 2020 the payments were suspended due to coronavirus. In 2021 the bank intends to resume dividends once the regulatory limitations are lifted. Shares of Komerční banka are traded on the Prague Stock Exchange and the RM-SYSTÉM Czech Stock Exchange using ticker BAAKOMB. More information about the company including stock recommendation from Fio banka analysts available here.
Moneta Money Bank is a universal bank focusing on the Czech market and providing services to consumers and small and medium-sized enterprises. The bank previously operated under name GE Money Bank. For the year 2020 the bank reported operating revenue of CZK 12.1 billion and net income of CZK 2.6 billion. Moneta pays out dividends. In 2020 the payments were suspended due to coronavirus. In 2021 the bank intends to resume dividends once the regulatory limitations are lifted. Shares of Moneta are traded on the Prague Stock Exchange and the RM-SYSTÉM Czech Stock Exchange using ticker BAAGECBA. More information about the company including stock recommendation from Fio banka analysts available here.
O2 Czech Republic is a telecommunication company operating mainly in the Czech Republic and Slovakia. The company provides customers with voice, internet and data services. It is the largest internet connection provider and IP TV provider in the Czech Republic. For the year 2020 the company reported revenue of CZK 39.8 billion and net income of CZK 5.8 billion. The company has paid out dividends for a long time and also realized a stock buyback in recent years. Shares of O2 Czech Republic are traded on the Prague Stock Exchange and the RM-SYSTÉM Czech Stock Exchange using ticker BAATELEC.
Philip Morris ČR is a subsidiary of Philip Morris International. The company is the largest producer and distributor of tobacco products in the Czech Republic. The company exports goods from its production site in Kutná Hora to 46 countries and imports electronic cigarettes. Philip Morris ČR owns a subsidiary in Slovakia. For the year 2020 the company reported sales of CZK 17.9 billion and net income of CZK 3.5 billion. Philip Morris ČR has a long tradition of dividend payments. Shares of Philip Morris ČR are traded on the Prague Stock Exchange and the RM-SYSTÉM Czech Stock Exchange using ticker BAATABAK.
Photon Energy Group is an international solar power and water management company. The company develops, operates and also partially owns photovoltaic parks in Central Europe and Australia. For the year 2020 the company reported revenue of €28.3 million, net income of €8.7 million and total comprehensive income of €2.1 million. Photon Energy does not pay dividends. Shares of Photon Energy are traded using ticker BAAPEN on the Prague Stock Exchange and also on markets in Warsaw and Frankfurt.
SAB Finance is a Czech foreign exchange company. The company owns FCB Bank in Malta and is a shareholder of Trinity Bank. For the year 2020 the company reported net income of CZK 116.7 million. The company intends to pay dividends twice a year. Shares of SAB Finance are traded using ticker BAASABFI on the Prague Stock Exchange.
Stock Spirits Group is a Central European producer and distributor of alcoholic drinks focused mainly on markets in Poland, the Czech Republic and Italy. The company is the second largest vodka producer in Europe and has a wide brand portfolio of various spirits and liqueurs. For the fiscal year 2020 the company reported revenue of €341 million and net income of €19.6 million. Since the initial public offering the company pays dividends twice a year. The company also paid two special dividends. Shares of Stock Spirits are listed on the London Stock Exchange. Using ticker BAASTOCK the shares are also traded on the Prague Stock Exchange and the RM-SYSTÉM Czech Stock Exchange.
Vienna Insurance Group, also known as VIG, is a universal insurance group consisting of around 50 insurers operating in Central and Eastern Europe with history dating back to 1824. Key markets are Austria and the Czech Republic. For the year 2020 the company reported gross premiums of €10.4 billion and net income of €231.5 million. Vienna Insurance pays out dividends. Shares of Vienna Insurance are listed on the Vienna Stock Exchange. Using ticker BAAVIG the shares are also traded on the Prague Stock Exchange and the RM-SYSTÉM Czech Stock Exchange.
Stock exchange markets
Each issue of shares traded on the PSE is organized into one of four stock exchange markets. These markets impose different rules, especially in terms of reporting requirements for issuers or other authorized persons. The “Prime” and “Standard” markets are regulated, while markets “Free” and “Start” are unregulated. Shares traded on the “Prime” market must comply with the most stringent terms and conditions.
PRIME MARKET
The Prime market is designated for the largest and the most prestigious Czech and foreign companies and imposes the most stringent terms.
STANDARD MARKET
The Standard market je určený pro obchodování velkých a prestižních emisí akcií českých i zahraničních společností. Akcie, které jsou již obchodovány na jiném regulovaném trhu v rámci EU, mohou být přijaty k obchodování na trhu Standard bez souhlasu emitenta.
FREE MARKET
TheFree market is a segment of a multilateral trade system. Stock and other issues can be listed on the Free market upon the issuer’s request or without issuer’s consent if they are already listed on other world stock exchanges.
START MARKET
The START market is a segment of a multilateral trade system focused on small and medium-sized enterprises with market capitalization between CZK 25 million and CZK 2 billion. Compared to other markets of the PSE, the START market offers simplified conditions suited to smaller issuers.
Multiple times a year the companies share their updates during so-called START days. More information about the START market is available in our guide (in Czech here).
AtomTrace is a Czech manufacturer of laser spectroscopes, devices for element analysis. Their products can be used in research, education, industry and forensic investigation. For the year 2019 the company reported sales of CZK 3.1 million and net loss of CZK 8.4 million. Shares of AtomTrace are traded using ticker BAATOMT on the Prague Stock Exchange. The minimum tradable unit (lot) is set at 500 shares of AtomTrace.
eMan is a Czech software company that develops custom mobile and web applications for corporate clients such as Škoda Auto, ČSOB, ČEZ or Honeywell. The company also provides IT specialists outsourcing and consultation services. For the year 2020 the company reported revenue of CZK 175.3 million and net income of CZK 1.8 million. eMan does not pay dividends. Shares of eMan are traded on the Prague Stock Exchange and the RM-SYSTÉM Czech Stock Exchange using ticker BAAEMAN. The minimum tradable unit (lot) for the PSE is set at 500 shares of eMan, trading on the RM-S is not limited.
Fillamentum is a Czech producer of filaments (thermoplastic feedstock for 3D printers), plastic tubing for automotive and beverage packaging and other plastic products. For the year 2020 the company reported sales of CZK 72.3 million and operating loss of CZK 3.8 million. Fillamentum does not pay dividends. Shares of Fillamentum are traded using ticker BAAFILLA on the Prague Stock Exchange. The minimum tradable unit (lot) is set at 300 shares of Fillamentum.
Karo Invest is a Czech leather manufacturer. The company processes and colors bovine leather that is supplied mainly to Polish furniture makers. For the year 2020 the company reported sales of CZK 163 million and gross operating profit (EBITDA) of CZK 5 million. Karo does not pay dividends. Shares of Karo are traded on the Prague Stock Exchange and the RM-SYSTÉM Czech Stock Exchange using ticker BAAKARIN. The minimum tradable unit (lot) for the PSE is set at 2000 shares of Karo, trading on the RM-S is not limited.
Pilulka Lékárny is a Czech e-commerce company that operates online pharmacy Pilulka.cz and a chain of brick-and-mortar pharmacies. The company is active in the Czech Republic, Slovakia and Romania. For the year 2019 the company reported sales of CZK 1.3 billion and net loss of CZK 46 million. Pilulka does not pay dividends. Shares of Pilulka are traded on the Prague Stock Exchange and the RM-SYSTÉM Czech Stock Exchange using ticker BAAPILLE. The minimum tradable unit (lot) for the PSE is set at 10 shares of Pilulka, trading on the RM-S is not limited.
Prabos plus is a Czech manufacturer of work, safety and outdoor footwear with history dating back to 1860. The company supplies their shoes to armed forces of NATO countries including the Army of the Czech Republic, police and rescue services and companies such as ČEZ or Škoda Auto. For the year 2020 the company reported sales of CZK 417.6 million and net income of CZK 24.8 million. Prabos pays dividends. Payment of dividend from the 2019 profit was postponed because of coronavirus. Shares of Prabos are traded on the Prague Stock Exchange and the RM-SYSTÉM Czech Stock Exchange using ticker BAAPRAPM. The minimum tradable unit (lot) for the PSE is set at 125 shares of Prabos, trading on the RM-S is not limited.
Primoco AUV is a Czech producer of medium-sized, unmanned aerial vehicles and a provider of related air services. For the year 2020 the company reported sales of CZK 30.9 million and net loss of CZK 9.4 million. Primoco does not pay dividends. Shares of Primoco are traded using ticker BAAPRIUA on the Prague Stock Exchange. The minimum tradable unit (lot) is set at 100 shares of Primoco.
UDI CEE is a subsidiary of a real estate developer UDI Group. The company owns two projects – 75 % of the logistics park Ostředek near highway D1 and 100 % of the residential project KURIR in Belgrade. The company plans to pay dividend upon finishing these projects. Shares of UDI CEE are traded using ticker BAAUDICE on the Prague Stock Exchange. The minimum tradable unit (lot) is set at 587 shares of UDI CEE.
Trading hours
Trading regime – continuous trading (stock markets Prime, Standard, Free and START)
- 08:00 - 08:50 - Pretrading (order collection)
- 08:50 - 09:00 - Opening auction
- 09:00 - 16:10 - Continuous phase
- 16:10 - 16:15 - Closing auction
- 16:15 - 16:25 - Trading at Close (Trading at Close)
- 16:25 - 17:00 - Posttrading (order collection for the next day)
Trading regime – continuous trading (corporate bonds)
- 08:00 - 11:10 - Pretrading (order collection)
- 11:10 - 12:00 - Opening auction
- 12:00 - 16:00 - Continuous phase
- 16:00 - 16:05 - Closing auction
- 16:05 - 16:15 - Trading at Close (Trading at Close)
- 16:15 - 17:00 - Posttrading (order collection for the next day)
Obchodní režim – single auction (bonds)
- 08:00 - 11:00 - Pretrading (order collection)
- 11:10 - 16:00 - Auction
- 16:00 - 17:00 - Posttrading (order collection for the next day)
Legislation of the PSE
- Regulations and rules of the Prague Stock Exchange can be found here.
How much does trading on PSE cost?
Total fee for closing a deal consists of the broker fee and the market fee.
- 0,35 % of the volume of trade (min. CZK 40 - max CZK 1,190).
- 0,01 % of the volume of trade (min. CZK 10 - max. CZK 4.000)
- in the case of securities for which Fio banka, a.s. carries out the activity of a market makers (e.g. ČEZ, Česká zbrojovka Group, Erste Group Bank, Kofola ČeskoSlovensko, Komerční banka, Moneta Money Bank, O2 Czech Republic, Philip Morris ČR, Vienna Insurance Group).
- 0,04 % of the volume of trade (min. CZK 10 - max. CZK 4.000)
- in the case of other securities.
Example of purchase of ČEZ company shares:
Transaction type: purchase
Quantity: 100 shares
Price per share: CZK 700
Trade volume: CZK 70.000
Broker fees: CZK 245
Market fees: CZK 7 (min. CZK 10)
Total fee: CZK 255
Trading system XETRA® Prague
Trading on the Prague Stock Exchange is performed through an automated trading system XETRA® Prague.
Xetra® is an electronic trading system driven by orders and quotations, which is operated by Deutsche Börse AG.
AShares can be traded in "continuous trading" and "independent auction" business segments. Continuous trading begins with the initial auctions, may be interrupted by embedded auctions and ends with the final auction.
Some of the principles of XETRA ® market model.
- Orders are processed according to price and time priority
- Trading is anonymous - traders do not know their counterparty
- The maximum validity of the order is 360 calendar days (T+359)
- Minimum tradable unit (lot) is equal to one piece of security
- At any given moment for a given security, there is only one price / one rate
- The latest calculated rate for a particular security is called ""Reference price""
More information about the following markets:
- Trading on the RM-SYSTEM Czech Stock Exchange
The RM-SYSTEM Czech Stock Exchange with online settlement is focused on small and medium investors. In addition to settlement, the low fees for EasyClick trading are another benefit.