Equity Capital Markets

Equity Capital Markets

Equity Capital Markets (ECM, dt.: Aktien- und Kapitalmärkte) ist eine Abteilung in Investmentbanken, die sich unter anderem mit Börsengängen (IPOs), Kapitalerhöhungen und Aktienrückkäufen beschäftigt.

ECM ist in der Regel zwischen den Abteilungen Corporate Finance und Equity Sales anzusiedeln. In enger Abstimmung besonders mit dem Corporate Finance werden Neuemissionen von Aktien vorbereitet, strukturiert, gepreist und alloziert[1]. Ebenfalls koordiniert die Abteilung gemeinsam mit den Börsen den ersten Handel. Sollte es notwendig erscheinen an den ersten Handelstagen stabilisierend in den Handel einzugreifen, so wird diese Funktion auch von dem ECM mit koordiniert.

Siehe auch

Fußnoten

  1. Robert Lilja: Internationalk Equity Markets/The Art of the Deal (1997), Euromoney Books, S.470

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