Prague Stock Exchange
The largest securities-market organizer in the Czech Republic and the operator of the country's principal regulated stock market.
Last updated October 14, 2026
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Overview
The Prague Stock Exchange (PSE), known in Czech as Burza cenných papírů Praha, a.s., is the largest and oldest securities-market organizer in the Czech Republic and the country's main stock exchange. Its institutional history reaches back to an exchange established in Prague in 1871, although that earlier market did not operate continuously through the twentieth century. The exchange was closed during the Communist period, and the present-day institution opened in 1993 as part of the reconstruction of a market-based financial system after the political and economic transition in Central Europe. PSE provides a regulated venue where licensed exchange members can arrange trading in securities, including equities and bonds. Its members are authorized traders, and exchange activity, trading results, market data, and related information are distributed through the exchange's website, information providers, and the financial media. The exchange is legally organized as a joint-stock company. Its General Meeting of Shareholders is the supreme corporate body, the Exchange Chamber is the statutory body responsible for managing exchange operations, and a supervisory board monitors the institution's activities and overall functioning. The chief executive officer is appointed and can be removed by the Exchange Chamber. The exchange's principal equity benchmark is the PX index. The index is also used as the basis for passive investment exposure through the Expat Czech PX UCITS ETF, which is listed on Frankfurt's Xetra platform and provides euro-denominated access to a portfolio linked to Czech equities. This relationship gives international investors a route into the Czech capital market without directly replicating the exchange's trading infrastructure. PSE is part of the broader PX Group. Wiener Börse AG owns 99.54 percent of the Prague Stock Exchange, making the Czech exchange part of the wider Vienna-based exchange infrastructure in Central Europe. The group includes the Prague Stock Exchange itself, Power Exchange Central Europe, and Central Securities Depository Prague. These affiliated institutions cover complementary parts of the financial-market value chain: securities trading, energy trading, and post-trade settlement and custody. Power Exchange Central Europe (PXE) was founded in 2007. It operates an electricity-trading platform involving the Czech Republic, Slovakia, and Hungary. Although energy trading differs from PSE's securities business, PXE extends the group's role from traditional equity and bond market organization into regional commodity-market infrastructure. Central Securities Depository Prague performs core post-trade functions for the Czech capital market. It maintains the central register of dematerialized securities issued in the Czech Republic, settles securities transactions, and assigns International Securities Identification Numbers to investment instruments. Its institutional lineage includes the Prague Stock Exchange Security Register established in 1993 and its 1996 reorganization into UNIVYC. In 2010, UNIVYC took over the records of the Securities Centre and assumed central-depository responsibilities under the name Central Securities Depository Prague. The Prague Stock Exchange is therefore not only a trading venue but also the best-known public-facing component of a Czech and Central European market-infrastructure group. Its significance stems from its role in organizing securities trading, publishing market information, supporting the PX benchmark, and operating within a group that links exchange trading with energy markets and securities settlement.
History
The history of the Prague Stock Exchange combines a nineteenth-century exchange tradition with the creation of a new institution after the end of Communist rule. An exchange in Prague was initially opened in 1871, when the city formed part of the Austro-Hungarian financial system. That historical market did not continue operating throughout the twentieth century. During the Communist period, organized securities trading of the type associated with a market economy was discontinued. The current Prague Stock Exchange opened in 1993, during the transformation of the Czech economy and the creation of modern capital-market institutions. Its development was supported by a group of specialists in Central and Eastern European markets, including the American financier Raymond Staples. The new exchange became a central venue for the trading and dissemination of information about Czech securities, with trading conducted by licensed firms that also serve as exchange members. PSE is constituted by law as a joint-stock company. Governance is divided among the General Meeting of Shareholders, the Exchange Chamber, and the supervisory board. The shareholders' meeting is the highest corporate authority. The Exchange Chamber manages the exchange's operations as its statutory body, while the supervisory board supervises the institution and its general functioning. Day-to-day executive leadership is assigned to a chief executive officer appointed by the Exchange Chamber. The exchange became part of a broader market-infrastructure group. Wiener Börse AG owns 99.54 percent of PSE, linking the Prague market with the Vienna-based exchange organization and its Central European network. PSE and its subsidiaries are generally described as the PX Group. The group includes the stock exchange, Power Exchange Central Europe, and Central Securities Depository Prague. The group's activities expanded beyond securities trading with the creation of Power Exchange Central Europe in 2007. PXE provides an electricity-trading platform for the Czech Republic, Slovakia, and Hungary. This created a regional energy-market business alongside the securities-market activities of PSE. Post-trade infrastructure developed in parallel. The Prague Stock Exchange Security Register was established in 1993, and in 1996 it was reorganized into UNIVYC. In 2010, UNIVYC took over the records of the Securities Centre and assumed the role of central securities depository under the name Central Securities Depository Prague. The depository maintains the central register of dematerialized Czech securities, settles securities transactions, and allocates International Securities Identification Numbers. The PX index is the principal equity index associated with the Prague Stock Exchange. It serves as a reference for the Czech equity market and can be accessed passively through the Expat Czech PX UCITS ETF, listed on Frankfurt's Xetra platform. Through its trading, index, disclosure, and post-trade functions, the Prague Stock Exchange remains a core institution in the Czech financial system and a component of a wider Central European market-infrastructure network.
- 2010
Central Securities Depository Prague is formed
[1]UNIVYC takes over the Securities Centre's records and assumes the Czech central-depository role under the name Central Securities Depository Prague.
- 2007
Power Exchange Central Europe is founded
[1]PXE begins operating as a regional electricity-trading platform covering the Czech Republic, Slovakia, and Hungary.
- 1996
Security Register is reorganized as UNIVYC
[1]The Prague Stock Exchange Security Register is reorganized into UNIVYC, laying groundwork for the later central-depository structure.
- 1993
Modern Prague Stock Exchange opens
[1]The current Prague Stock Exchange begins operating after the Communist-period interruption as part of the reconstruction of Czech market institutions.
- 1993
Prague Stock Exchange Security Register is established
[1]A securities-registration institution is created as part of the post-transition Czech capital-market infrastructure.
- 1871
Initial Prague exchange opens
[1]An early securities exchange is established in Prague, providing the historical foundation for the city's organized exchange tradition.
Products and positioning
A regulated Czech capital-market infrastructure provider and the country's largest securities-market organizer, with regional reach through its ownership by Wiener Börse AG and its relationship to the PX Group.
Exchange trading · 1993
Regulated securities market
The Prague Stock Exchange provides the principal organized venue for securities trading in the Czech Republic. Trading is conducted through licensed firms that are members of the exchange. PSE publishes trading outcomes and related market information through its own website and distributes data through information agencies and the media. The exchange's role is market organization and information dissemination rather than the manufacture or sale of consumer products.
Market index
PX index
PX is the principal equity index associated with the Prague Stock Exchange. It serves as a reference measure for the Czech equity market and provides a benchmark for investors, financial institutions, and market commentary. Passive exposure to the index is available through the Expat Czech PX UCITS ETF, which is listed on Frankfurt's Xetra platform and trades in euros.
Energy exchange · 2007
Power Exchange Central Europe
Power Exchange Central Europe, or PXE, is a related PX Group platform founded in 2007 for electricity trading. Its market coverage includes the Czech Republic, Slovakia, and Hungary. PXE complements the securities activities of the Prague Stock Exchange by providing organized infrastructure for regional energy-market transactions.
Post-trade infrastructure · 2010
Central Securities Depository Prague
Central Securities Depository Prague provides core post-trade services for the Czech capital market. It settles securities transactions, maintains the central register of dematerialized securities issued in the Czech Republic, and assigns International Securities Identification Numbers to investment instruments. Its institutional predecessors include the Prague Stock Exchange Security Register and UNIVYC.
Brand decisions
2010
Consolidate Czech securities-depository functionsStrategyBackground
The Czech capital market required a central institution for settlement, registration, and identification of dematerialized securities.
Action taken
UNIVYC took over the records of the Securities Centre and assumed the central-securities-depository role under the name Central Securities Depository Prague.
Aftermath
The PX Group gained an integrated post-trade institution responsible for central registration, settlement, and securities identification in the Czech market.
2007
Expand the PX Group into electricity tradingStrategyBackground
The Prague Stock Exchange group sought to support regional market infrastructure beyond conventional securities trading.
Action taken
Power Exchange Central Europe was established as an electricity-trading platform serving the Czech Republic, Slovakia, and Hungary.
Aftermath
PXE became one of the major entities associated with the PX Group and broadened the group's activities into Central European energy markets.
Recent events
- 2010
UNIVYC assumes central-depository responsibilities[1]
Other
UNIVYC took over the records of the Securities Centre and became the Czech central securities depository under the name Central Securities Depository Prague.
- 2007
Power Exchange Central Europe is established[1]
Other
PXE was founded as an electricity-trading platform serving the Czech Republic, Slovakia, and Hungary, becoming an important entity within the wider PX Group.
- 1993
Prague Stock Exchange reopens as a modern Czech securities market[1]
Other
The present-day Prague Stock Exchange began operating after the Communist-period closure, supporting the re-establishment of a market-based securities system in the Czech Republic.
Sources2 sources
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