What is a stock exchange?
A stock exchange is a marketplace where stocks and other securities are traded. It gathers all buyers and sellers in one place, so the price is the same for everyone, and it makes sure the trade goes through. The Danish exchange is Nasdaq Copenhagen, open on weekdays from 9 to 17. You do not trade on the exchange yourself — your bank or broker does it for you.
What the exchange does
If you want to sell 10 shares at 200 and someone else wants to buy 10 at 200, the exchange's system matches you — automatically, in a fraction of a second. An exchange is no longer a building full of shouting men; it is a computer system. It does not set prices; it just shows what buyers and sellers agree on right now. That is why the share price moves all the time.
The exchanges you meet
- Nasdaq Copenhagen — Danish stocks (Novo Nordisk, Maersk, Danske Bank). The C25 index is the 25 most traded.
- First North — Nasdaq's growth market for small companies. Fewer requirements, more risk.
- New York Stock Exchange and Nasdaq (US) — the world's largest. Open 15.30–22.00 Danish time.
- Xetra (Frankfurt), Euronext (Paris, Amsterdam), London Stock Exchange — the big European ones.
The same company can be listed on several exchanges. The price is nearly the same everywhere — otherwise someone would profit from the difference immediately.
Listed or not
A company being listed means its shares can be traded on an exchange, and that the company must publish accounts and important news to everyone at the same time. That is why you can look up Novo Nordisk and see everything — but not your local carpenter. The first time a company goes on the exchange is called a listing or IPO.
The typical beginner's mistake
Placing an order when the exchange is closed and assuming it trades at the evening price. It queues until next morning at 9, when the price may be quite different. Use a limit order if you trade outside opening hours.
How you see it in Kiggo
Kiggo shows which exchange each stock trades on, and the prices are stamped with trading day and time. Kiggo's heat map shows a whole market — for example all C25 stocks — as a map where green rises and red falls, so you can see the mood on the exchange at a glance.
Related terms
Frequently asked questions
When is the exchange open?
Nasdaq Copenhagen: weekdays 9.00–17.00. The US exchanges: 15.30–22.00 Danish time. Closed at weekends and on public holidays — and Danish and US holidays are not the same.
Can I trade directly on the exchange?
No. Only banks and brokers with membership can. You place your order with them and they pass it on. That is why you pay commission.
What is the difference between Nasdaq Copenhagen and Nasdaq in the US?
Same owner, two markets. Nasdaq Copenhagen is the Danish exchange (formerly the Copenhagen Stock Exchange). Nasdaq in New York is a US exchange with many technology companies.
Kiggo explains — Kiggo does not advise. We never tell you what to buy or sell, and key figures can only be compared between companies in the same industry. The decision is yours. Last updated 2026-09-23.
Written by Claus Frisch, founder of Kiggo. Not an adviser, not a bank — Kiggo explains, you decide.
