The securities of thousands of US companies are currently listed on German stock exchanges. A significant number of these companies do not know about the listing, do not want it or even, in some cases, actually object to it.
In order to understand how this is possible, it is important to first examine the system of trading securities on German stock exchanges. According to German stock exchange regulations, such trading can take place on three different markets: the official market; the regulated market; and the regulated unofficial market.
